January 29th, 2025: SP-500, QQQ and IWM Chart Update
Posted by pugsma on January 29, 2025
6:00 pm EST: The SP-500 gapped down from 6067 to 6061, slid lower to 6013 (day’s low), rallied to 6057 and closed at 6039.
Key Technical Indicators (Short to Intermediate Term) Print SharpCharts from StockCharts.com
- NYSE A-D Line Cumulative: The broad market NYSE A-D line Cumulative is yet to confirm the new all-time SP500 high at 6128 by making a new all-time high. However, it’s very close and on Monday, January 27th the NYSE A-D Line Cumulative closed flat line with the SP-500 down nearly 100 points. That’s shows broad market buying and is potentially bullish for the over equity market. $NYAD | SharpCharts | StockCharts.com
- Bull Flag: Bull Flag from 6100 to 5773 with a target at 6427 was confirmed (Jan 22nd, 2025) on the break above 6100.
Key Technical Indicators (Intermediate to Long-Term):
- Back-to-Back +20% Years (2023 & 2024): Since ’50, 21 times S&P 500 was up 20% (price only, so not total return) and next yr higher 81.0% of time and up 10.6% on avg. After back-to-back 20% yrs? Up 20.0% on avg and higher 4 out of 4. Avg yr up 9.5% and higher 72.0% of time. https://x.com/RyanDetrick/status/1875958963080225199
- AAII Sentiment: The week of Jan 13th, 2025 the Investor Sentiment is the most bearish since November 2023 when the SP500 hit the P2 low at 3492! Only 25% Bulls and 40% Bears this week. This is great news for the bullish primary (white/green) and alt(blue) wave counts. aaii.com/sentimentsurvey”
https://x.com/aaiisentiment/status/1879880966703034385?s=46&t=gg5AXDQK37ob5YJ37ot1dw
Wave Count(s):
- The primary (white/green) wave count is that minor 4 of major [5]-P3-C3 of SCV completed at 5773. The minor 5 wave up is underway and will complete major [5]-P3-C3 at 6234, where major [5]=[1]. Within minor 5, minute (1) completed at 6128. The minute (2) completed at 5963, just above the 50% Fib at 5951. The wave minute (3) up is underway and with break above 6128 and should target 6240, where (3)=0.78(1). Note: The primary (white/green) wave count is valid above 5963.
- The alternate (blue) wave count is that major [4]-P3-C3 of SCV played out as a Double Zig-Zag to 5773, where the minor Y = minor W wave. The major [5] wave up in underway with minor 1 heading for the bull flag target area of 6427. Within minor 1 the minute (1) wave completed at 6128 and wave minute (2) is targeting the 62% Fib at 5901. Once minute (2) completes, the minute (3) wave break above 6128. Note: The alternate (blue) wave count is valid above 5773.
SP-500 15-min chart:
SP-500 60-min chart:
QQQ 15-min chart:
QQQ 60-min chart:
IWM 15-min chart:
IWM 60-min chart:
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