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October 20th, 2022: SP-500, IWM and QQQ Chart Update

Posted by pugsma on October 20, 2022

4:20 pm EST: The SP-500 opened flat from 3696, rose to 3736, dropped to 3656 and closed at 3665.

SP500 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

14 Responses to “October 20th, 2022: SP-500, IWM and QQQ Chart Update”

  1. Pramood Kalikiri said


    Can you include custom chart on META (Facebook) in your service. It looks oversold on daily and weekly with positive divergence. Looking attractive at 125 (AH) for a rally to 180-200 area. Thanks

  2. MS53 said

    Red Vix, Red SPX at the dawn of a iii, (3) wave .

  3. pugsma said

    The SP500 daily Bollinger Bands are getting tight. A BIG move in the SP500 is coming.

    The price pattern looks similar to June-July. The BIG move was up from 3637 to 4326 then.

    The majority think the next BIG move now is down now from 3763 to 3000.

  4. pugsma said

    62% fib at 3647 hit and bounced to 3687. That’s a bullish reaction for the primary (white/green) count.

    The 13-day EMA is at 3677 and starting to turn up. Need to see this continue.

  5. pugsma said

    Hmmm… I was discussing this exact thing here yesterday.

    From this mornings WSJ: “Fed officials are preparing to raise rates by 0.75 point next month and debate whether and how to slow the pace of increases after that…”


    • pugsma said

      You will want to be long the SP500 when the first hint of slowing (or pausing) Fed rate hikes hits the tape! That will likely be a +200 point day on the SP500.

      • pugsma said

        It’s only “speculation” by me and the WSJ right now. But the day it crosses a voting Fed members lips…BOOM!

        • pugsma said

          St Louis Fed James Bullard said over last weekend that he would like to see +0.75 on Nov 2nd and +0.75 on Dec 14th and “THEN A PAUSE”. That has really helped to support the equity markets this week.

          The more we hear these types of Fed Speak comments heading into Nov 2nd, the more the SP500 will rise.

  6. pugsma said

    The bullish IHS pattern downward sloping neckline is around 3745 at the close today. Closing above a chart pattern trigger level is a bullish confirmation.

  7. pugsma said

    Just a “hint” that the Fed May discuss “slowing” rate hikes at the Nov 2nd meeting sent ES up +120 points for 3645 to 3765.

    Imagine what happens when the Fed actually pauses.

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