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May 25th, 2022: SP-500, IWM and QQQ Chart Update

Posted by pugsma on May 25, 2022

4:50 pm EST: The SP-500 gapped down from 3944 to 3930, dropped quickly to 3925 (day’s low), then rallied to 3999 (day’s high) and closed at 3978.

Technical Analysis: Print SharpCharts from StockCharts.com

  1. NYMO: The NYMO has formed a +DIV between the May 12th closing low of 3932 and Thurs/Fri May 19th/20th closing lows at 3900/3901. The NYMO has closed above zero four consecutive days and above +40 today.
  2. NYSE A-D Line Cumulative: There is positive divergence between the May 12th closing low of 3932 and Thurs/Fri May 19th/20th closing lows at 3900/3901. This typical of +DIV on the NYSE A-D Cumulative often occurs a key bottom. The NYSE A-D Line Cumulative closed higher on May 25th with a SP500 close of 3978 than it did on May 17th with the SP500 close at 4092. The SP-500 should follow above 4092.
  3. VIX: The VIX has formed a -DIV between the May 12th closing low of 3932 and Thurs/Fri May 19th/20th closing lows at 3900/3901.

Wave Counts:

  1. The primary (white/green) count has the P2-C3 low at 3810, which is right at the 38% Fibonacci retrace of P1-C3. Wave minute (1) of minor 1 peaked as 5 waves at 3981. The minute (2) wave retraced to the 62% Fib at 3876. The minute (3) target is at 1.62*(1) = 4152. A 23% Fib for minute (4) is at 4086. Finally, minute (5)=(1) at 4259 should complete minor 1. Major [1]-P3 initial target is at 5043 in the spring to early summer of 2023. Note: The primary (white/green) count is valid above 3810.

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 daily chart:

SP500 Technical Analysis

IWM 60-min chart:

IWM Technical Analysis

IWM daily chart:

IWM Technical Analysis

QQQ 60-min chart:

QQQ Technical Analysis

QQQ daily chart:

QQQ Technical Analysis

18 Responses to “May 25th, 2022: SP-500, IWM and QQQ Chart Update”

  1. pugsma said

    I updated AAPL, AMZN and GOOGL charts in the 2022 CCA Service today: https://pugsma.com/custom-chart-archive-2022/

  2. pugsma said

    Good chart here on the VIX and key SP500 market bottoms:


  3. pugsma said

    Weekly AAII Sentiment (May 26th, 2022): Bulls 20%, Bears 53%

    4-week moving average of % Bears is the highest since Great Recession of 2008-2009.


  4. jrw said

    Both NYAD cumulative and intraday NYMO are very strong out of the gate this morning — the overall market rally is gaining momentum and is broadening across-the-board

  5. Victoria Hubbard said

    Is your “Giddy Up” call back now Steve? Thank you!

  6. pugsma said

    Yesterday was an 83% UVOL day on the NYSE.


    Today is at 88% UVOL at 11:30 am EST. Only the close matters.

    Back-to-back 80% UVOL is indicative of a new bull wave higher.


  7. AT said

    Would love your take on ARKK – you mentioning some analysis that you had done ….

    • pugsma said

      There will be no more ARKK chart updates. I’m going back to long standing policy to only chart high quality companies.

      The ARKK story that has gone from boom to bust in a year and reminds me off many speculative tech sector focused funds that formed in 1998 to 2000 and went bust in 2001.

  8. WaterRock said

    Curious as to your thoughts, looking at S&P, does it appear that we just completed iii & now starting iv?

  9. pugsma said

    Walter Deemer on the significance of a back-to-back > 80% UVOL NYSE days.


  10. pugsma said

    Not only is the NYSE A-D Line Cumulative going to close again well above it’s level when the SP500 closed at 4091 early last week. It’s close to reaching it’s level when the SP500 closed at 4308 in early May!


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