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June 15th, 2022: SP-500, IWM and QQQ Chart Update

Posted by pugsma on June 15, 2022

12:20 pm EST: The SP-500 gapped up from 3735 to 3764, hit 3794, dropped to 3760….

Technical Indicators: Print SharpCharts from StockCharts.com

  1. The Trifecta SP-500 Buy Triggered at the Close Today, Monday, June 13th.
  2. The VIX completed step 2 of the 3 step VIX Sell, SP-500 Buy signal on the close of Tuesday, June 14th.
  3. If the VIX can close red today, Wednesday, June 15th and the NYMO and SP-500 can close back inside their respective Bolinger Bands (BB), then the Trifecta SP-500 Buy signal is confirmed.

Wave Counts:

  1. The primary (white/green) wave count is that minute (5) of minor 5 of major [C]-P2-C3 completed at 3706. The very early stages of the P3-C3 wave up is underway. The preliminary minute (1) of minor 1 of major [1] target is at 3959.
  2. The alternate (blue) count is a slight variant of the primary (white/green) count with this current bounce from 3706 as a minute (4) of minor 5 of major [C]-P2-C3, which has a target area of the 23%/38% Fib retrace at 3811 to 3880. Once minute (4) completes, the final minute (5) of minor 5 of major [C] wave should drop below 3706, towards the [C]=1.38[A] target at 3665.

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

IWM 60-min chart:

IWM Technical Analysis

QQQ 60-min chart:

QQQ Technical Analysis

4 Responses to “June 15th, 2022: SP-500, IWM and QQQ Chart Update”

  1. patrick kavanagh said

    Hi Steve

    So back on track for another potential ZWEIG thrust as of yesterday?

  2. jrw said

    Hi Steve, given that SP500 has dropped down to a low of 3657, has the Alt Blue count become the primary?

  3. Mark Miller said

    In sync with the mid-term election cycle.

  4. hmeda said

    Just a reminder that the market is closed on Monday.

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