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Market Rap 04/01/22 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures drifting back upward, and cooling off the extreme oversold hourly RSI from yesterdays late day flush, ahead of the March jobs report at 8:30 et 451.44 was the after hours low before futures opened

454.57 is the corresponding futures high so far

SPY 3months, daily candles More convincing daily consolidation on heavier volume, tapped the 150 day MA (orange line)(support)

451.16 the low from yesterday and first support

451.02 the 150 day MA (orange line)

448.85 the 12ema (white line) - if consolidation stays above there it stays healthier for the bulls, much more than that the probabilities become higher we stay in this recent range awhile longer, and would look for a "lower high" on the next bounce

443.71 the last daily "higher low" and spot for bulls to pivot anywhere above to keep the daily uptrend in their favor

440.03 the 50 day MA(resistance)

458.76 the high from yesterday and first resistance

462.07 after that

QQQ 5 days, hourly candles Nasdaq futures similar look - drifting upwards off yesterdays lows and cooling off oversold hourly RSI ahead of the March jobs report 361.33 the after hours low from yesterday before futures opened

364.28 the corresponding futures/pre mkt high so far

QQQ 3 months, daily candles Back below the 200 day MA as more convincing daily consolidation of the recent move gets underway; Note we had a similar look back in early February when we saw one day above the 200 day and then weakness after failing to stay above it(support)

361.68 the low from yesterday and first support

358.07 next

356.88 the 12ema (white line)

351.59 after that

348.50 the 50 day MA(resistance)

367.60 the high from yesterday and first resistance

368.93 the 200 day MA

371.34 the 150 day MA

371.83 the high of the recent bounce

April Vix futures 3months, daily candles Daily bounce underway, watching for any follow thru today

Spot Vix 3 months, daily candles Back above 20 (though back-testing it now from the upside) Daily bounce underway here also off the RSI areas where historically we see some type of bounce; Still a potential daily bear flag if this move cant get above the 23-24ish area. Inside bar day so far today, 21.48 needed for the upside bull break

19.54 needed for the bear break

https://www.briefing.com/stock-market-update Futures rise in front of employment report

01-Apr-22 07:55 ET

Market is Closed

[BRIEFING.COM] S&P futures vs fair value: +30.70. Nasdaq futures vs fair value: +99.00.

The S&P 500 futures trade 31 points, or 0.7%, above fair value heading into the release of the March Employment Situation report at 8:30 a.m. ET.

The Briefing.com consensus is projecting 475,000 additions to nonfarm payrolls, a 3.7% unemployment rate (versus 3.8% in the prior month), and a 0.4% increase to average hourly earnings -- essentially a tight labor market that will factor into the Fed's decision making.

Investors will also receive the ISM Manufacturing Index for March (Briefing.com consensus 58.3%) and Construction Spending for February (Briefing.com consensus 1.0%) at 10:00 a.m. ET.

Some measures of support ahead of the employment report include first-of-the-month inflows as investors put new money to work after a two-day decline, and news that virtual peace talks between Russia and Ukraine are continuing today.

In the Treasury market, the 2s10s spread went negative again last night but as yields pushed higher not lower. Presently, the 2-yr yield is up 11 basis points to 2.39%, and the 10-yr yield is up eight basis points to 2.41%. The U.S. Dollar Index is up 0.2% to 98.49. WTI crude futures are down 1.0% to $99.25/bbl.

Separately, shares of GameStop (GME 192.16, +35.58, +15.4%) have risen 15% in pre-market action after the company announced plans to seek approval for a 3.33-for-1 stock split for its Class A shares.

Employment report shows decent jobs growth and lower unemployment rate

01-Apr-22 08:33 ET

Market is Closed

[BRIEFING.COM] S&P futures vs fair value: +31.20. Nasdaq futures vs fair value: +109.00.The S&P 500 futures trade 31 points, or 0.7%, above fair value. March nonfarm payrolls increased by 431,000 (Briefing.com consensus 475,000) while the prior month's increase was upwardly revised to 750,000 from 678,000. Nonfarm private payrolls increased by 426,000 (Briefing.com consensus 450,000) while the previous month's increase was upwardly revised to 739,000 from 654,000. The unemployment rate was 3.6% (Briefing.com consensus 3.7%), versus 3.8% in February. Average hourly earnings increased 0.4% m/m (Briefing.com consensus +0.4%) after increasing 0.1% in February. The average workweek decreased to 34.6 (Briefing.com consensus 34.7) from 34.7.

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