SCI-SCV, SCA-SCC: Super Cycle
C1-C5, CA-CC :Cycle
P1-P5, PA-PC : Primary
[1]-[5], [A]-[C] : Major
1-5, A-C : Minor
(1)-(5), (a)-(c) : Minute
i-v, a-b : Minuette
Primary Count:
White/Green (Bull Market)
White/Red (Bear Market)
Alternate Count: Blue
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Posted by pugsma on June 14, 2022
IWM 60-min chart:
IWM daily chart:
IWM weekly chart:
QQQ 60-min chart:
QQQ daily chart:
QQQ weekly chart:
This entry was posted on June 14, 2022 at 5:24 pm and is filed under IWM, Premium, QQQ. Tagged: Elliott Wave Technical Analysis, IWM Technical Analysis, QQQ Technical Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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pugsma said
No update need for the SP500 tonight.
The update for IWM and QQQ will be all.
mark scheckel said
What are the pivots on the chart based on?? Timeframe? Type of pivot (i.e. classic, traditional, fib, etc…)??
pugsma said
Weekly chart horizontal levels of support and resistance.
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.
https://stockcharts.com/h-sc/ui?s=%24NYAD&p=D&yr=0&mn=9&dy=0&id=p32152966307&a=269536931&r=1450045167343&cmd=print
pugsma said
All eyes on this chart at the close today. There is chance to get the Trifecta SP500 Buy signal full confirmation today.
pugsma said
We also had the extra added bullish kicker for the NYMO of “two consecutive closed below the BB and below -40”
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.
pugsma said
Thus, it’s best to help the equity markets to bottom if the Fed increases to 0.75 or even 1.00 today.