PUG Stock Market Analysis, LLC | Technical Analysis Blog

PUG Stock Market Analysis is here to help with SP500, QQQ, IWM, Gold technical analysis, stock analysis and more.

  • Meta

  • Follow Blog via Email

    Enter your email address to follow this blog and receive notifications of new posts by email.

  • Subscribe

  • PUG Wave Labeling

    SCI-SCV, SCA-SCC: Super Cycle
    C1-C5, CA-CC :Cycle
    P1-P5, PA-PC : Primary
    [1]-[5], [A]-[C] : Major
    1-5, A-C : Minor
    (1)-(5), (a)-(c) : Minute
    i-v, a-b : Minuette
    Primary Count:
    White/Green (Bull Market)
    White/Red (Bear Market)
    Alternate Count: Blue

  • Categories

  • Archives

April 27th, 2023: SP-500, IWM and QQQ Chart Update

Posted by pugsma on April 27, 2023

6:00 pm EST:  The SP-500 gapped up from 4056 to 4075, then rose steadily all day to hit 4138 (day’s high) and closed near the high at 4135.

Key Technical Indicators (Short to Intermediate Term)  Print SharpCharts from StockCharts.com

  1. Golden Cross (2-2-23): 50-day SMA (3953) closed above the 200-day SMA (3951).
  2. 200-day SMA at 3940 (3-8-23): The SP-500 closed above a rising 200-day SMA (3940) for the first time since April 2022. This confirms the P2-C3 bottom at 3492!
  3. Seasonality: The SP-500 past 20-years of seasonality shows a low in March and a rally the rest of the year.
  4. Zweig Breadth Trust (ZBT) (3-31-23): The ZBT signal triggered on Friday, 3-31-23 with a 10th day close above 0.615 (See the ZBT Chart Here: Print SharpCharts from StockCharts.com)
  5. NYMO (4-26-23): The NYMO closed two consecutive days below its lower BB and below -40. This is NYMO Based SP500 Buy Trigger that needs a close back inside the lower BB to confirm. 4-27-23 the NYMO closed at -12 well above it’s lower BB confirm the SP500 Buy Signal.

Wave Counts:

  1. The primary (white/green) wave count is the completion of minor 1 of major [1]-P3-C3 as a leading diagonal at 4100, where minute (5)>(3)>(1). The minor 2 wave completed at 3764 just below the 50% Fib of 3796. The minor 3 wave up is underway with a minimum target of minor 3 = 1.23*minor 1 at 4512. Within minor 3, the minute (1) of minor 3 wave ended at 4195. The minute (2) wave pull-back reached 3809, which is the 88% Fib area of 3815. Wave minute (3) up is underway head for (3)=1.38(1) at 4339. Wave i of minute (3) completed at 4039. The wave ii-(3) completed at 3909, in between the 50%/62% Fib area. Wave iii-(3) completed at 4169 and wave iv completed at 4049, just below the 38% Fib of 4070. Wave v-(3) up is headed above 4169 to a target at v=i=4279. Note: The primary (white/green) count as labeled is valid above 4049 as labeled.
  2. The alternate (blue) count is that i of minute (3) minor 3 completed at 4169 and now wave ii-(3) is unfolding towards the 38%/50% Fib targets of 4023 to 3989. Note: The alternate (blue) count as labeled is valid a labeled below 4169.

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

Sorry, the comment form is closed at this time.

%d bloggers like this: