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Market Rap 01/25/23 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures broke yesterdays lows, and has now retraced a majority of Mondays move 396.85 the pre mkt low so far

401.81 the after hours highs from yesterday, following the initial positive reaction to the MSFT report

SPY 3 months, daily candles Inside bar day yesterday, but just under yesterdays low currently as we shape up for the small gap down open/daily consolidation. Daily uptrend in play anywhere above the 1/19 low.(support)

397.64 the low from yesterday - trading a bit under there right now

395.72 Mondays low

395.49 the 200 day MA(purple)

394.15 the daily 12ema(white)

392.89 the 50 day MA(blue)

390.34 the 150 day MA(orange)

387.26 that recent "higher low" from 1/19 and the spot for bulls to stay anywhere above to keep the uptrend on this timeframe intact (resistance)

401.15 the high from yesterday

402.65

405.50

410.49

QQQ 5 days, hourly candles Nasdaq futures also flushed yesterdays lows after the MSFT earnings guidance reversal 284.30 the pre mkt low

290.90 the after hours high following the initial positive reaction to the MSFT headline numbers

QQQ 3 months, daily candles Inside bar day yesterday breaking bearish into daily consolidation today, as we shape up for the gap down open. Daily uptrend in play anywhere above the 1/19 low. (support)

286.78 the low from yesterday, well under there currently for the gap down open

282.73 Mondays low

279.66 the daily 12ema(white)

279.08 the 50 day MA(blue)

275.71

273.89 the 1/19 "higher low" and spot for bulls to stay anywhere above on this daily consolidation (resistance)

287.69 the 150 day MA(orange)

289.55-290.21

291.41

293.33 the 200 day MA(purple)

296.88

Feb. Vix futures 3 months, daily candles Slight lower lows under yesterday followed by a bullish piercing candle that's taking back much of yesterdays decline. The next "oversold" bounce trying to get underway.

Spot Vix 3months, daily candles Back to the 20 psyche area but has been struggling to get back above/stay above that level so far this year, which is different than what we saw last year.

Watching to see if that change keeps up, or we revert back to the low to mid 20s level we got accustomed to at the back end of last year.

TLT 3months, daily candles Daily "higher low" set at 105.39; currently over yesterdays high and looking for continuation of the daily uptrend

https://www.briefing.com/stock-market-update The S&P 500 futures are down 32 points and are trading 0.8% below fair value. The Nasdaq 100 futures are down 151 points and are trading 1.2% below fair value. The Dow Jones Industrial Average futures are down 213 points and are trading 0.6% below fair value. Equity futures indicate a lower open primarily driven by renewed valuation concerns following Microsoft's (MSFT) disappointing cloud growth expectations and fiscal third quarter guidance. An earnings miss by fellow Dow component Boeing (BA) has added to the weakness and the sense that the market might have gotten ahead of itself with the January rally. Treasury yields are moving lower, but that has not offered support to the equity market. The 2-yr note yield is down five basis points to 4.14% and the 10-yr note yield is down five basis points to 3.42%. The U.S. Dollar Index is up 0.1% to 102.01. Energy complex futures trade in mixed fashion. WTI crude futures are flat at $80.14/bbl and natural gas futures are down 2.9% to $2.97/mmbtu. In corporate news:

  • Microsoft (MSFT 236.07, -5.97, -2.5%): beats by $0.01, reports revs generally in-line; Azure revenue growth +38% constant currency vs +37% CC prior guidance; guides on call for MarQ, revs guided below consensus; sees revenue growth between 17%-19% for its Intelligent Cloud business

  • AT&T (T 19.62, +0.46, +2.4%): beats by $0.03, reports revs in-line; guides FY23 EPS below consensus

  • Amazon (AMZN 93.96, -2.36, -2.5%): losing ground in the wake of Microsoft's disappointing guidance for its cloud business; workers are expected to strike in UK today, according to Bloomberg

  • Boeing (BA 209.80, -2.18, -1.0%): misses by $1.95, reports revs in-line; reaffirms FY23 cash flow guidance

  • Texas Instruments (TXN 175.52, -1.52, -0.9%): misses by $0.01, reports revs in-line; guides Q1 EPS in-line, revs in-line

  • Capital One (COF 104.87, -1.64, -1.5%): misses by $1.04, reports revs in-line

  • Tesla (TSLA 104.87, -1.64, -1.5%): confirms $3.6 bln investment in Gigafactory Nevada

  • Intuitive Surgical (ISRG 234.84, -23.14, -9.0%): misses by $0.02, reports revs in-line; Sees 2023 procedure growth of 12-16%, sees non-GAAP gross margin of 68-69%

  • F5 Networks (FFIV 140.00, -6.47, -4.4%): beats by $0.14, reports revs in-line; guides Q2 EPS below consensus, revs in-line; guides FY23 revs in-line

  • News Corp (NWS 20.84, +0.93, +4.7%) and Fox Corporation (FOXA 33.26, +0.59, +1.8%): News Corp confirms Murdoch withdraws proposal to explore a potential combination of News Corp and Fox Corp

  • ASML (ASML 656.66, -13.35, -2.0%): beats by $0.27, beats on revs; guides Q1 revs in-line; guides FY23 revs above consensus; raises dividend

  • Kimberly-Clark (KMB 129.16, -5.47, -4.1%): beats by $0.03, reports revs in-line; guides FY23 EPS below consensus, revs in-line


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