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Market Rap 02/17/22 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures pulled back, and currently trading around the middle of yesterday's range 443.52 the corresponding futures low

447.04 the corresponding futures high

SPY 3 months, daily candles Got close to filling the lower gap yesterday, before heading back higher and closing above the 200 day MA, just under the 12ema 446.87 the 12ema

448.06 the high from yesterday and next resistance

451.61 after that

451.80 the 150 day MA 444.52 the 200 day MA

441.94 the low from yesterday and next support

441.60 small gap left open still

435.34 after that

QQQ 5 days, hourly candles Nasdaq futures also pulled back, and has spent the last few hours trading sideways in yesterdays range 352.24 the corresponding futures low

356.48 the corresponding futures high

QQQ 3 months, daily candles Lower gap filled here yesterday, before reversing to test the 12 ema, with a close under 356.34 daily 12ema resistance

357.09 high of yesterday next

360.07 after that


367.09 the 200 day MA 350.71 the low from yesterday and first support

343.89 after that, lose that area and we see continuation of the daily downtrend; If bulls can defend anywhere above there, they can then attempt a pivot to higher highs, looking to regain this daily trend

March Vix futures 3 months, daily candles Found some marginal lower lows compared to yesterdays lows, before reversing above the 24.20 low from 2/11 (24.28 the overnight low).

High levels of vol still in play, meaning high levels of intraday movement.

Spot Vix 3 months, daily candles Inside bar day so far here, after a retrace of about half of this recent surge. Break it bearish (lose 23.88 w follow thru) and daily consolidation continues, looking for a daily "higher low" anywhere above recent 19.93 lows. Break it bullish (27.09 breaks to the upside w follow thru) and we look for a "lower high" anywhere under the 32.04 high from 2/14. Futures tick lower as market digests geopolitics, earnings, and the Fed

17-Feb-22 07:58 ET

Market is Closed

[BRIEFING.COM] S&P futures vs fair value: -4.40. Nasdaq futures vs fair value: -45.50.

The S&P 500 futures trade four points, or 0.1%, below fair value as the market remains mindful of the Russia-Ukraine situation while investors review the latest earnings reports.

According to CNN, the U.S. is alleging that Russia has added approximately 7,000 troops near Ukraine, bringing its total to over 150,000, despite the country's claims about a partial withdrawal. In turn, the 10-yr yield is down four basis points to 2.01%, and gold prices are up 0.9% to $1887.50/ozt. Oil prices ($91.77, -1.89, -2.0%), however, are down 2%.

The 2-yr yield, meanwhile, is down two basis points to 1.50% after touching 1.60% yesterday. The retracement suggests that the Fed's policy shift might be priced in or that the geopolitical risks might play a factor in the Fed refraining from a 50-bps hike in March. The U.S. Dollar Index is up 0.1% to 95.75.

In earnings news, Dow components Walmart (WMT 136.88, +3.35, +2.5%) and Cisco (CSCO 55.82, +1.57, +2.9%) are up more than 2.0% in pre-market action after beating EPS estimates and announcing new share-repurchase plans. NVIDIA (NVDA 259.44, -5.67, -2.1%) is heading the other way despite exceeding expectations and guiding Q1 revenue above consensus.

On the data front, investors will receive Housing Starts ( consensus 1.705 million) and Building Permits ( consensus 1.750 million) for January, weekly Initial Claims ( consensus 220,000), and the Philadelphia Fed Index for February ( consensus 20.4) at 8:30 a.m. ET.

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