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Market Rap 03/31/23 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candlesS&P futures trading sideways up near the highs from yesterday405 the corresponding futures high

403.44 the corresponding futures low

SPY 3 months, daily candles Lifted further off it's 50 day MA(blue) and pushed over the FOMC day highs from last Wednesday. Yesterdays gap came close to filling by mid-day but missed by .16. Chance of a third gap up in a row today which can be a sign of short term exhaustion, as we head into a test of the early March highs. Daily uptrend in play with the 12ema(white) back underneath as support, and the "higher low" from 3/28 being the guide for said uptrend on this timeframe.(resistance)

404.35 the high from yesterday


407.45 (support)

401.76 the low from yesterday

401.60 small open gap

400.73 the 50 day MA


396.98 the daily 12ema

396.49 open gap

393.69 that 3/28 daily "higher low"

392.44 the 200 day MA(purple)

QQQ 5 days, hourly candles Nasdaq futures pushed over the RTH highs from yesterday, before pulling back and cooling off the overbought hourly/4hr RSI conditions 317.05 the corresponding futures high

315.38 the pre mkt low so far

QQQ 3 month daily candles and 1 year, daily candles Peeking over all recent highs from the past 3-6months and now trading at levels not seen since last August. (resistance)

316.32 the high from yesterday

321.51 the high from 8/26/22

322.08 an open gap from 8/19-8/22 (support)

312.81 the low from yesterday


308.20 open gap

307.93 the daily 12ema(white)

304.77 the last daily "higher low" and spot for bulls to stay anywhere above once daily consolidation of this move gets underway

April Vix futures 3 months, daily candles Muddling just above recent lows pre-banking crisis not crisis

Spot Vix 3 months, daily candles Daily bear flag look if it cant get back above that 20 psyche level [BRIEFING.COM] S&P futures vs fair value: +6.50. Nasdaq futures vs fair value: -4.00.The S&P 500 futures are up 6 point and are trading 0.1% above fair value. The Nasdaq 100 futures are down 5 points and are trading slightly below fair value. The Dow Jones Industrial Average futures are up 65 points and are trading 0.2% above fair value. There's not a lot of conviction in the equity futures market, driving only modest moves. Investors are anxiously awaiting the market-moving February Personal Income and Spending report at 8:30 a.m. ET, which will include the PCE Price Index (the Fed's preferred inflation gauge). Treasuries are mixed ahead of the data release. The 2-yr note yield is up five basis points to 4.16% and the 10-yr note yield is unchanged at 3.56%. The U.S. Dollar Index is up 0.3% to 102.46. Energy complex futures also trade in mixed fashion. WTI crude oil futures are up 0.7% to $74.92/bbl and natural gas futures are down 0.4% to $2.10/mmbtu. Other economic data today includes:

  • 9:45 ET: March Chicago PMI ( consensus 42.5; prior 43.6)

  • 10:00 ET: Final March University of Michigan Consumer Sentiment ( consensus 63.4; prior 63.4)

In corporate news:

  • Tesla (TSLA 196.05, +0.77, +0.4%): CEO Elon Musk plans to visit China, according to Reuters

  • First Republic Bank (FRC 13.86, +0.17, +1.2%): moving higher on MA regulator probing insiders' stock sales, according to Reuters

  • Ford Motor (F 12.34, +0.05, +0.4%): ups F-150 Lightning prices, according to Automotive News

  • Nikola Corporation (NLKA 1.3400, -0.06, -4.3%): prices offering of 29,910,715 shares of common stock at $1.12 per share

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