Shooter’s Major Markets ETF Risk On / Risk Off Report

Scott “Shooter” Henderson’s Elliot Wave and proprietary technical analysis of Major Markets. Includes equity ETFs: SPY, QQQ, and treasuries through TLT. Use this analysis as a general market guide and for trading the major market ETFs.

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Risk On / Risk Off Index Notes

A view of the big indexes that give us a clue as to whether the stock market is more risk on or risk off.




SPY Risk On!

“Divergent” counts have flipped! 90 minutes says that were done, while the daily and weekly are still looking for $335. I left the old counts up! The short label and the Primary Wave Label. Well, we bounced right off my Speedline. Does it hold? Or is this a dead cat bounce? We won’t know for sure until the back-test. But, I will say it does seem likely that we will see a follow through Monday.

SPDR S&P 500 ETF Trust Monthly Wave Count (updated 06/25/2022)

QQQ Risk On!

Well, neither me nor the app saw that kind of overshoot. The Wave II count has pushed up to maybe $311, yet the current candle is a bit short of that figure and has started to fade into the close. Decent volume but is low in comparison to the sell candles. Yet, this leg does not look done. It lacks uniformity. You won’t see this often, but IDK here. We have one divergent low, so yes, that could be a bottom. But we did not tag the Speedline nor does leg C look done.

Invesco QQQ Trust Monthly Count Chart (updated 06/25/2022)

TLT Risk Off!

We should head for Wave 5 soon…maybe $106 but I really like the Alt. as the decline increased. Equality, looks way lower to me, maybe even $80. Even though, the count does not reflect this yet.

iShs 20+ Yr Treasury Bd ETF Monthly Wave Count (updated 06/25/2022)

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