Market Rap 03/22/22 by CTG
SPY / QQQ / Vix
SPY 5 days, hourly candles S&P futures tested the middle of yesterdays range overnight, now trading towards the upper end 442.52 the corresponding futures low
446.41 the corresponding futures high
SPY 3 months, daily candles Tested the 200 day MA yesterday; potential reversal doji candle - an open, and most importantly a close below 444.34 would confirm as we watch for daily consolidation of this recent move (resistance)
446.07 the 200 day MA
446.46 the high from yesterday
448.06 after that
450.57 the 150 day MA (support)
441.74 the 50 day MA
440.68 the low from yesterday, if that breaks daily consolidation gets underway
433.90 the daily 12ema
QQQ 5 days, hourly candles Similar look here on the Nasdaq, futures tested halfway into yesterdays range before bouncing to test the upper end 348.50 the corresponding futures low
352 the corresponding futures high
QQQ 3 months, daily candles Potential reversal doji yesterday at the 50 day MA, an open and more importantly a close below 350.08 would confirm (resistance)
351.18 the 50 day MA
352.48 the high from yesterday
357.09 after that (support)
345.58 the low from yesterday
339.30 the daily 12ema
XLV has been one of the strongest sectors recently on this bounce3months, daily candles
TLT 3 year, weekly candles More lows yesterday, and finding prices last seen in July of 2019, as weekly RSI is on the verge of clicking into oversold territory
April Vix futures 3 months, daily candles Testing levels last seen before the Ukraine invasion
Spot Vix 3 months, daily candles and 3yr daily candles for historical RSI context Cautious of a bounce here in the short term, as that daily RSI pushes down under 40; 35-40 is the spot in the past 3 years where we historically see some type of bounce. Watching for that to coincide with daily consolidation in the broad market.
https://www.briefing.com/stock-market-update Futures Point Higher
22-Mar-22 07:55 ET
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: +20.10. Nasdaq futures vs fair value: +18.30.
The stock market is on track for a higher start as futures on the S&P 500 trade 20 points above fair value, which will give the benchmark index another chance at reclaiming its 200-day moving average.
The early gains in equity futures follow an overnight session that saw a mostly positive showing from Asian equities while European stocks are on the rise.
Commodities trade on a mostly lower note after yesterday's gains with crude oil down $0.10, or 0.1%, at $112.02/bbl.
The overnight session saw a limited set of economic data while the U.S. session will not feature any noteworthy releases.
Treasuries are on track for a lower start with the 10-yr yield rising two basis points to 2.34%