May 29th, 2025: SP-500, QQQ and IWM Chart Update
Posted by pugsma on May 29, 2024
6:00 pm EST: The SP-500 gapped down from 5306 to 5279, quickly hit 5263 (day’s low), then traded sideways up to 5182 (day’s high) and closed at 5266.
Key Technical Indicators (Short to Intermediate Term) Print SharpCharts from StockCharts.com
- NYMO: On Tuesday, May 28th, the NYMO closed down at -35 with a positive SP500 producing a -DIV. On Wednesday, May 29th, the NYMO closed at -67 vs a lower BB at -54. This is a trigger for the NYMO based SP500 Buy Signal. The NYMO must close back inside the lower BB to confirm.
Key Technical Indicators (Intermediate to Long-Term):
- Golden Cross (2-2-23): 50-day SMA (3953) closed above the 200-day SMA (3951).
- Zweig Breadth Trust (ZBT) (3-31-23 and again on 11-3-23): The ZBT signal triggered on Friday, 3-31-23 and again on Friday, 11-3-23. This ZBT signal historically has produced an average SP500 of +24% over the next year with 100% probability! ZBT Chart 25 Year Link: !BINYBT | SharpCharts | StockCharts.com
- SP500 Seasonality: The 4-year US Presidential Election Year Cycle shows a peak in late January to early February, then a shallow drop into mid-March, a choppy Q2 (Apr-June) and finally a big rally into year end.
- Historical Stat: The SP500 was up for the 3 months (Dec 2023, Jan and Feb 2024), closing February at 5095. Since the year 1930 the SP-500 has been positive the next year in 25 of 25 cases (100%) with an average again of 16% (5095 => 5910 Target). The average draw-down form the February close is -3.7% (5095 => 4906). Wayne Whaley on X: “A 25-0 NEXT YEAR (MARCH-FEBRUARY) – WHEN DECEMBER, JANUARY AND FEBRUARY ARE EACH POSITIVE https://t.co/tRtvWJP7lt” / X (twitter.com)
Wave Count(s):
- The primary (white/green) count is that minor 1 of major [5]-P3-C3 of SCV completed 5342 and the minor 2 correction is underway and should retrace to the 38%/50% Fibonacci targets of 5195 to 5146. The drop from 4342 to 4257 is (w) of minor 2. The (x) of minor 2 wave bounce reached 5316 within the target retrace rage of the 62%/78% Fib area at 5310 to 5323. Next the minute (c) of minor 2 wave should drop below 5257. Some potential targets are (y)=(w) at 5231, (y)=1.23(w) at 5212 and (y)=1.62(w) at 5178. Note: The primary (white/green) count minor 2 of major [5] wave is valid above the major [4] wave low at 4954.
SP-500 15-min chart:
SP-500 60-min chart:
SP-500 daily chart:
QQQ 60-min chart:
QQQ daily chart:
IWM 60-min chart:
IWM daily chart:
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