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June 14th, 2022: IWM and QQQ Chart Update

Posted by pugsma on June 14, 2022

IWM 60-min chart:

IWM Technical Analysis

IWM daily chart:

IWM Technical Analysis

IWM weekly chart:

IWM Technical Analysis

QQQ 60-min chart:

QQQ Technical Analysis

QQQ daily chart:

QQQ Technical Analysis

QQQ weekly chart:

QQQ Technical Analysis

10 Responses to “June 14th, 2022: IWM and QQQ Chart Update”

  1. pugsma said

    No update need for the SP500 tonight.

    The update for IWM and QQQ will be all.

  2. pugsma said

    NYMO closed at -77 vs -74 BB. Thus no SP500 buy signal confirmation on the NYMO.

    The SP500 also closed below its BB at 3735. No SP500 buy signal confirmation.

    VIX did close back under its BB and completed step 2 of the three step SP500 buy signal. Need a red VIX close tomorrow to confirm final step 3.


  3. Donald Petersen said

    Any thoughts on interest rate hike of .75 being positive and market would respond up or a .50 where market deems not serious about fighting inflation market drops?

    • pugsma said

      What matters most to the improving equity markets is “incremental” improvement is the economy, earnings and fed policy.

      In other words, things not getting worse.

      The SP500 just plunged from 4177 to 4706 (-11%) in 4 trading days, because the May CPI report was incrementally worse than April.

      • pugsma said

        So the Fed going from 0.50 to a 0.75 or 1.00 rate hike is incrementally worse (but might already be priced in the equity markets since last Thursday).

        But If the Fed does increase to 0.75 to 1.00 rate hike in June, then it sets the stage for the Fed reduced this in July and going forward. That is a good thing for equity markets.

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