August 10th, 2022: SP-500, IWM and QQQ Chart Update
Posted by pugsma on August 10, 2022
11:40 am EST: The SP-500 gapped up from 4122 to 4180, quickly hit 4198, pulled back to 4178, rallied to 4210…
Technical Indicators: Print SharpCharts from StockCharts.com
Wave Counts:
- The primary (white/green) wave count is that minor 3 of major [1]-P3-C3 is headed to at last the minor 3=1.62*minor 1 target of 4223. Assuming minor 3 completes at 4223, the minor 4 retrace targets are at the 23%/38% Fibs of 4108 to 4032. Ultimately once the minor 4 completes, the minor 5 of major [1]-P3 wave should target the 4341 to 4417, where minor 5=minor 1. Note: The primary (white/green) count minor 4 of major [1] wave up remains valid above the minor 1 high of 3946.
- The alternate (blue) count is a slight variant of the primary (white/green) count that has the minor 4 of major [1] low at 4080 and the final minor 5 wave up is underway headed for at least the 0.5*minor 1 at 4235. The major [2] wave down is underway and should target the 50% Fibs at 3936.
SP-500 60-min chart:
SP-500 daily chart:
IWM 60-min chart:
IWM daily chart:
QQQ 60-min chart:
QQQ daily chart:
One Response to “August 10th, 2022: SP-500, IWM and QQQ Chart Update”
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orion.colorado said
Heck yeah. Thanks, Steve