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    SCI-SCV, SCA-SCC: Super Cycle
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September 7th, 2022: SP-500, IWM and QQQ Chart Update

Posted by pugsma on September 7, 2022

4:55 pm EST: The SP-500 opened flat from 3908, then rose steadily all day to 3988 and closed 3980.

Technical Analysis: Print SharpCharts from StockCharts.com

  • NYMO (Sept 6th): Closed down near -100. NYMO closes below -100 are extremely rate and almost always market key market bottom that leads to all-time new highs within one year.
  • The 60-min chart (Sept 6th) is showing +DIV on the RSI and MACD.

Wave Counts:

  1. The primary (white/green) wave count is that major [1]-P3-C3 topped at 4326 and the major [2] correction down to the 62% Fib at 3899 is complete at 3887. Major [3] wave up is just beginning. The minute (1) of minor 1 of major [3] should target 4022. Note: The SP500 needs to move above 4018 intra-day and close 4080 to confirm the major [2] low.
  2. The alternate (blue) count is that major [1]-P3-C3 topped at 4326 and the major [2] correction down to the 78%/88% Fib at 3789/3720 is underway. The minor A wave completed at 4120 and the minor B bounced to 4203. The minor C wave down is underway, where C=2.0A at 3791. Note: This alternate (blue) wave count remains valid for major [2]-P3 above the P2-C3 low at 3667.

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

13 Responses to “September 7th, 2022: SP-500, IWM and QQQ Chart Update”

  1. WM said

    https://twitter.com/sentimentrader/status/1567594385864261632

    Just wow!

  2. pugsma said

    Note the 23%/38% fibs fir iv-(1) is 3966/3952. Wave i-(1) was 3943, so breaking below that level is bad news for the primary (white/green) count that the major [2] low is in a 3887.

  3. pugsma said

    Weekly AAII Sentiment at Extreme Low Bulls at 18%, just like in June.

    Reported Date Bullish Neutral Bearish
    Sep 7 18.1% 28.7% 53.3%

    Jun 22 18.2% 22.5% 59.3%
    Jun 15 19.4% 22.2% 58.3%

    https://www.aaii.com/sentimentsurvey/sent_results

  4. pugsma said

    Super great news for the primary wave count! We have 5 waves up from 3887 to 3995!

    Wave v=i at 4001 for minute (1) of minor 1 of major [3]-P3-C3.

    • pugsma said

      v=1.62i = 4036 for minute (1) competition.

      Anything above that is icing on the cake for the bulls.

      • droc14 said

        pretty compelling bullish setup with (1) completing today at 4010 and the low at 3953 being (2). Not 100% sure of labeling but looks promising. ~50% retrace at 3953.

        • pugsma said

          Yes. But Wave degrees are being down shift minuette i-ii. We have a LONG way to go up to above 6500+ for major [3]. So I need to slow the wave count levels down here at the start.

  5. pugsma said

    Active Money Managers at only 27% Equity Exposure this week.

    Doesn’t necessarily mean they have 73% in cash, as it could be various bonds, etc.

    https://twitter.com/hmeisler/status/1567911210519040002?s=46&t=_Tp7Ec-_vzdKhB_Xh6qdiA

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