SPY / QQQ / Vix
SPY 5 days, hourly candles S&P futures trading sideways up near Fridays highs 396.46 the corresponding futures high
395.16 the pre mkt
SPY 3 months, daily candles Next daily "higher low" gets set at Thursdays low of 387.26, after bulls pivoted back to the upside Friday and the 200 day MA(purple). Daily uptrend stays intact for bulls against that level. (resistance)
395.97 the 200 day MA
396.04 the high from Friday
400.12-400.23 (support)
392 the 50 day MA(blue)
391.67 the 12ema(white)
388.38 the low from Friday
387.26 the new spot for bulls to stay above to maintain the uptrend
QQQ 5 days, hourly candles Nasdaq futures trading up near Fridays highs and trying to peek thru 283.47 the pre mkt high
282.31 the pre mkt low
QQQ 3 months, daily candles A new daily "higher low" gets set at Thursdays low here as well; bulls pivoted off the 12ema(white) and headed back up thru the 50 day MA(blue) to a test of recent resistance.(resistance)
283.02 the high from Friday
284.69 the recent high
287.48 the 150 day MA(orange)
291.41
296.88 (support)
278.19 the 50 day MA
276.09 the 12ema
275.71 the low from Friday
273.89 that new daily higher low and spot for bulls to stay above to maintain the daily uptrend
Feb. Vix futures 3 months, daily candles
Another back off against it's daily 12ema on Thursday saw follow thru downward Friday; Currently testing Fridays lows and not far from recent lows again
Feb. Vix futures 3 months, daily candles Another back off against it's daily 12ema on Thursday saw follow thru downward Friday; Currently testing Fridays lows and not far from recent lows again
https://www.briefing.com/stock-market-update
[BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +19.30.The S&P 500 futures are up 3 points and are trading slightly above fair value. The Nasdaq 100 futures are up 21 points and are trading 0.2% above fair value. The Dow Jones Industrial Average futures are up 31 points and are trading 0.1% above fair value.
There's not a lot of conviction in the equity futures market as investors await earnings reports from influential names like Microsoft (MSFT) and Tesla (TSLA) later this week, along with key economic data that includes the advanced Q4 GDP reading and the Personal Income and Spending report for December.
An article from Nick Timiraos in The Wall Street Journal over the weekend indicated that the Fed is likely to raise rates by 25 basis points at the next FOMC meeting and could begin debating when to pause rate increases.
According to Reuters, the latest survey of businesses by the National Association of Business Economics (NABE) indicated a 56% possibility that the economy was in, or will be in, a recession this year versus a nearly two-thirds possibility at the time of the last survey.
In corporate news:
Salesforce (CRM 158.73, +7.48, +5.0%): Elliott Management aiming to take stake in Salesforce (CRM), according to WSJ
Baker Hughes (BKR 31.59, +0.52, +1.7%): misses by $0.02, misses on revs
Synchrony Financial (SYF 36.35, +0.94, +2.7%): beats by $0.13
Wayfair (W 51.60, +4.81, +10.3%): upgraded to Overweight from Underweight at JPMorgan
PayPal (PYPL 77.89, -1.20, -1.5%): Banks are planning new payment wallet program to compete with PYPL, according to WSJ
Spotify (SPOT 102.75, +4.84, +4.9%): expects to cut about 6% of the employee base
Shopify Inc. (SHOP 42.35, +1.87, +4.6%): upgraded to Buy from Hold at Deutsche Bank
Abbott (ABT 109.41, -3.41, -3.0%): being investigated by federal authorities over baby formula issues, according to WSJ
Pliant Therapeutics (PLRX 39.85, +17.34, +77.0%): reports positive data from the INTEGRIS-IPF Phase 2a trial demonstrating Bexotegrast 320 mg was well tolerated and achieved statistically significant FVC increase
Evoqua Water (AQUA 47.89, +6.86, +16.7%): to be acquired by Xylem (XYL) in $7.5 bln all-stock transaction
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