Market Rap 02/18/22 by CTG
SPY / QQQ / Vix
SPY 5 days, hourly candles S&P futures saw a brief wick below yesterdays RTH lows, then quickly bounced off hourly oversold conditions 436.09 the corresponding futures low
440.75 the corresponding futures high
SPY 3 months, daily candles Will the daily downtrend continue under Monday's low, or can bulls pivot and find a higher low above that level? 436.42 the low from yesterday and first support
435.43 Monday's low
427.15-427.82 next support area
420.76 January lows/weekly support after that, bulls looking for a weekly higher low anywhere above there 444.62 the 200 day MA back overhead
446.57-448.06 area after that
QQQ 5 days, hourly candles Nasdaq futures also saw a brief wick below yesterdays RTH lows, then saw their hourly oversold RSI bounce get underway 344.59 the corresponding futures low
348.57 the corresponding futures high
QQQ 3 months, daily candles Will the daily downtrend continue under Monday's low, or can bulls pivot and find a higher low above that level? 345.02 the low from yesterday and first support
343.89 Monday's low
337.95 after that
334.15 the January low/weekly support - bulls are looking for a weekly higher low anywhere above there, or the weekly downtrend continues 353.46 the high from yesterday and first resistance on this timeframe
357.09 after that
IWM 3 months, daily candles Different look here, as this is still maintaining a daily uptrend anywhere above Monday's lows (within a weekly downtrend; looking for a weekly higher low anywhere above the January lows, whenever this bounce tops out) 200.78 the low from yesterday and first support
199.24 Monday's low after that, and the spot need to maintain that daily uptrend 205.03 the high from yesterday and first resistance
207.27 after that
March Vix futures 3 months, daily candles Big surge back up here yesterday on broad market weakness; Failing at yesterdays high so far today.
Wide ranges and movement should be expected, especially with the big weekly options expiration day today
Spot Vix 3 months, daily candles Found a "higher low" at 23.88
28.37 yesterdays high
So far today trading tight, within yesterdays range Break bullish we're looking up at 32.04 as next "resistance"
Break bearish we're looking down at 23.33-23.88 as next "support"
https://www.briefing.com/stock-market-update Futures edge higher with investors cautiously optimistic on Russia
18-Feb-22 07:57 ET
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: +27.20. Nasdaq futures vs fair value: +96.80.The S&P 500 futures trade 27 points, or 0.6%, above fair value as the latest geopolitical headlines offer some reprieve for the market. The benchmark index enters the session down 0.9% for the week after a steep decline yesterday.
Investors are cautiously optimistic on the Russia-Ukraine situation after Secretary of State Blinken agreed to meet with Russia's foreign minister next week if there's no invasion, according to The New York Times. Russia also rebuffed claims that it was planning to invade.
The reaction outside the futures market has been muted. The 10-yr yield is unchanged at 1.97%, and the 2-yr yield is up two basis points to 1.49%. Gold futures have edged lower from the $1900 level ($1893.80, -8.20, -0.4%). The U.S. Dollar Index is little changed at 95.81.
WTI crude futures, however, are now trading below $90 per barrel ($89.49, -2.26, -2.5%) amid the potential for a nuclear agreement with Iran.
On the earnings front, investors continue to see disappointing reactions in growth stocks, specifically Roku (ROKU 107.10, -37.61, -26.0%), DraftKings (DKNG 18.25, -3.81, -17.3%), and Redfin (RDFN 20.60, -8.04, -28.1%). To be fair, Roku missed revenue estimates and issued downside Q1 revenue guidance.
Separately, today's data will include Existing Home Sales for January (Briefing.com consensus 6.08 million) and the Conference Board's Leading Economic Index for January (Briefing.com consensus 0.2%) at 10:00 a.m. ET. Fed chatter later this morning as well
$2.2 Trillion in Notional value of options are expiring today of those $700 billion are SPX options - one of the biggest options’ expiry day ever-CNBC