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Posts Tagged ‘IWM Technical Analysis’

May 26th, 2020: IWM and QQQ 60-min & Daily Chart Update

Posted by pugsma on May 26, 2020

9:20 am EST:   IWM is set to break above the 136.85 high from April 29th.   From last week, the primary (green)  count target for the major [1] completion was at 138.35, where M5=1.62*M1.  There is also a higher target at 143.32, where M5=2.0M1=143.32

One thing very interesting thing about IWM is that it recent pull-back to 117.18 was a nearly 50% Fib retrace of the entire move up from 95.69 to 136.85.  That would fit with the 117.18 low being a major [2] wave low in an alternate (blue) count that is extremely bullish going forward.  That is to say, that since the 117.18 major [2] low, the major [3] of P1-C3 wave has kicked off.   The typical wave [3]=1.62[1] target is at 183.86.  This first wave up from 117.18 would be the minor 1 of major [3] wave.

IWM 60-min chart:

IWM Technical Analysis

IWM Daily Chart:

IWM Technical Analysis

QQQ is minor 5 wave is targeting the M5=0.62*M1 = 234.92 level set last week for the QQQ primary (green) wave count.

QQQ 60-min chart:

QQQ Technical Analysis

QQQ Daily Chart:

QQQ Technical Analysis

Posted in IWM, Premium, QQQ | Tagged: , , | 6 Comments »

May 20, 2020: IWM and QQQ 60-min Chart Update

Posted by pugsma on May 20, 2020

IWM 60-min chart:

IWM Technical Analysis

QQQ 60-min chart:

QQQ Technical Analysis

 

Posted in IWM, Premium, QQQ | Tagged: , , | 5 Comments »

May 14th, 2020: IWM 60-min Chart Update

Posted by pugsma on May 14, 2020

IWM minor 3 of major [1] peaked at 136.85.   The minor 4 completed at 117.18 as a 3-wave, zig-zag, to just below the (c)=(a) target of 118.35.  The minor 5 target is near 140.

IWM 60-min chart:

IWM Technical Analysis

 

Posted in IWM, Premium | Tagged: , | 2 Comments »

May 12th, 2020: IWM 60-min Chart Update

Posted by pugsma on May 12, 2020

For the IMW primary (green) wave count minor B of major [2] completed at 132.95, just above the (c)=(a) target of 132.67.  The minor C wave down should reach at least the 50% Fib target at 116.28 to complete major [2].  A break below 122.25 is needed to confirm the primary (green) wave count.

The alternate (blue) wave count remains valid above the 122.25 level for a new high above 136.65 to complete major [1]-P1-C3.

IWM 60-min chart:

IWM Technical Analysis

Posted in IWM, Premium | Tagged: , | 13 Comments »

May 11th, 2020: IWM 60-min Chart Update

Posted by pugsma on May 11, 2020

IWM is displaying relative weakness with a possible minor B of major [2] completion precisely at the (c)=(a) target of 132.67.

IWM 60-min chart:

IWM Technical Analysis

Posted in IWM, Premium | Tagged: , | 3 Comments »

May 7th, 2020: IWM 60-min Chart Update

Posted by pugsma on May 7, 2020

IWM 60-min chart:

IWM Technical Analysis

Posted in IWM, Premium | Tagged: , | Leave a Comment »

May 5th, 2020: IWM Chart Update

Posted by pugsma on May 5, 2020

While the IWM has not confirmed it’s major [1] move higher above 136.65, I suspect it will eventually (just like the QQQ did today) following the blue wave count labels towards 143.94

IWM 60-min chart:

IWM Technical Analysis

Posted in IWM, Premium | Tagged: , | Leave a Comment »

May 1st, 2020: SP500, QQQ and IWM 60-min Charts:

Posted by pugsma on May 1, 2020

12:30 pm:  The SP500 gapped down from 2912 to 2869, and dropped to 2825 by mid-day.

We potential major [1]-P1-C3 tops (green labels) across the SP500 (2954), QQQ  (120.04) and IWM (136.65).  This would mean a several weeks to a couple months pull-back for the respective major [2] waves.   I’d expect the SP500 ad QQQ to only retrace to the 38% Fib’s (2664 and 199.10).  The IWM will likely retrace to the 62% Fib at 111.39.

Alternatively (blue labels) all three are holding their respective lower up channel lines and could make new highs for major [1] into mid-to-late May.  This alternate (blue) count would be particular satisfying, as it would continue to work off the excessive bearish sentiment.

Have a great weekend !

SP500 60-min chart:

SP500 Technical Analysis

 

QQQ 60-min chart:

QQQ Technical Analysis

IWM 60-min chart:

IWM Technical Analysis

Posted in IWM, Premium, QQQ, SP-500 | Tagged: , , , | 20 Comments »

April 30th, 2020: IWM 60-min chart

Posted by pugsma on April 30, 2020

IWM 60-min chart:

IWM Technical Analysis

Posted in IWM, Premium | Tagged: , | 7 Comments »

April 27th, 2020: IWM Chart Update

Posted by pugsma on April 27, 2020

IWM broke above the minor 3 high at 124.61 and has reached 126.56.  Minor 4 looks like a contracting triangle wave that completed at 119.74.   The triangle target is 124.88 + (124.88 – 114.56) = 135.20.   The minor 5 = minor 1 target range is 136.25 to 141.43 to complete major [1]-P1-C3.

IWM 60-min chart:

IWM Techncal Analysis

IWM daily chart:

IWM Technical Analysis

IWM weekly chart:

IWM Technical Analysis

Posted in IWM, Premium | Tagged: , | 8 Comments »