November 7th, 2022: SP-500, IWM and QQQ Chart Update
Posted by pugsma on November 7, 2022
6:45 pm EST: The SP-500 gapped up from 3771 to 3781, quickly hit 3789, dropped to 3765 (day’s low), then rallied to 3814 and closed at 3807.
Technical Analysis: Print SharpCharts from StockCharts.com
Wave Count: The primary (white/green) count is that major [Z]-P2-C3 bottomed at 3492 right at the 50% Fib in price (3505) and 50% Fib in time (Oct 2022) of P1-C3. Minor 1 of major [1]-P3-C3 rallied from 3492 to complete at 3912. The minor 2 wave retraced to 3698, which is the 50% Fib. The minor 3 wave up is just getting underway with an initial target of M3=1.62M1 at 4378. Within minor 3, minute (1) is headed for 3928. Note: The primary (white/green) count minor 2 wave is valid above the P2-C3 low at 3492.
SP-500 15-min chart:
SP-500 60-min chart:
IWM 60-min chart:
QQQ 60-min chart:
Sorry, the comment form is closed at this time.
You must be logged in to post a comment.