SPY / QQQ / Vix
SPY 5 days, hourly candles S&P futures got a half-hearted bounce attempt off hourly oversold conditions; Currently testing yesterdays lows here pre mkt as bears will look to confirm an hourly bear flag/bulls will look to play defense 397.40 the corresponding futures low
399.41 the pre mkt high
SPY 3 months, daily candles Monday's bearish hammer candle was confirmed yesterday with increasing volume, as the daily 12ema(white) was lost and the 50 day MA(blue) gets tested again. 3/2-3/3 gap filled. Bulls looking for a "higher low" above last weeks 3/2 low. (support)
398.31 that 50 day MA(currently a tad below)
397.63 the low from yesterday
393.65 the 150 day MA(orange)
393.16 the 200 day MA(purple)
392.33 that 3/2 low (resistance)
401.03 that daily 12ema back overhead
404.67 the high from yesterday
407.45
QQQ 5 days, hourly candles Nasdaq futures held yesterdays low and saw some hourly oversold RSI bounce as well; currently trying to hold above that low here in pre mkt 295.79 the corresponding futures low
297.53 the pre mkt high
QQQ 3 months, daily candles Mondays bearish reversal hammer was confirmed yesterday on heavier volume, as daily consolidation of this recent move gets underway. Pushed back below the 12ema(white). Bulls looking for a "higher low" somewhere above the 3/2 low. (support)
295.72 the low from yesterday
294.87
294.43 small open gap
290.05 the 200 day MA(purple)
288.75 the 150 day MA(orange)
288.37 the 3/2 low
287.94 the 50 day MA(blue) (resistance)
296.84 the daily 12ema back overhead
301.01 the high from yesterday
304
March Vix futures 3 months, daily candles
Daily bounce got underway yesterday; trying to follow thru today, but will need the broad market to break yesterdays lows to get going
Spot Vix 3months, daily candles
Testing 20 from below
$DXY 6 months, daily candles
Threatening follow thru above 3month highs here
https://www.briefing.com/stock-market-update
[BRIEFING.COM] S&P futures vs fair value: flat. Nasdaq futures vs fair value: +7.00.The S&P 500 futures are unchanged and are trading roughly in line with fair value. The Nasdaq 100 futures are up 3 points and are trading slightly above fair value. The Dow Jones Industrial Average futures are down points and are trading 0.1% below fair value.
Both buyers are sellers are lacking conviction this morning ahead of day two of Fed Chair Powell's testimony before Congress. Equity futures had been slightly higher earlier, but have deteriorated somewhat and now skew slightly negative.
Yesterday's close marked the first time since 1981 that the 2s10s spread was more than 100 basis points, reflecting worries about the Fed possibly taking rates too high and forcing a recession. The 2-yr note yield is up three basis points this morning at 5.04% and the 10-yr note yield is unchanged at 3.97%.
The weekly MBA Mortgage Application Index rose 7.4% with refinancing applications increasing 9.0% and purchase applications rising 7.0%.
In corporate news:
CrowdStrike (CRWD 132.00, +7.07, +5.7%): beats by $0.04, beats on revs; guides Q1 EPS above consensus, revs above consensus; guides FY24 EPS above consensus, revs in-line
Diversey Holdings (DSEY 8.22, +2.27, +38.2%): to be acquired by Solenis for $4.6 bln, or $8.40/share
Shoals Technologies (SHLS 24.35, -2.20, -8.3%): prices secondary offering of 24,501,650 shares of common stock by certain selling stockholders at $24.70 per share
Tesla (TSLA 184.87, -2.84, -1.5%) downgraded to Hold from Buy at Berenberg
Scorpio Tankers (STNG 61.74, +1.33, +2.2%): JPMorgan initiated coverage at Overweight
Occidental Petro (OXY 62.53, +1.68, +2.8%): 10% owner Berkshire Hathaway (BRK.A / BRK.B) bought another 5,801,791 shares worth ~$354.5 mln (3/3-3/7 transaction dates)
Stitch Fix (SFIX 4.5400, -0.43, -8.7%): misses by $0.25, reports revs in-line; guides Q3 revs in-line; announces new CFO, effective April 3
Yext (YEXT 7.78, -0.71, -8.4%): beats by $0.02, beats on revs; guides Q1 EPS above consensus, revs below consensus; guides FY24 EPS above consensus, revs below consensus
Casey's General (CASY 211.51, +1.81, +0.9%): beats by $0.36, reports revs in-line; Expects FY23 same-store inside sales growth of approximately 6% to 7%
United Natural Foods (UNFI 32.09, -8.87, -21.7%): misses by $0.66, reports revs in-line; guides FY23 EPS below consensus, raises revs in-line
Campbell Soup (CPB 52.95, +0.82, +1.6%): beats by $0.06, beats on revs; raises lower end of guidance for FY23 EPS in-line, raises revs above consensus
