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Market Rap 04/07/22 by CTG

willpletcher

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures tested yesterdays lower range overnight, bounced to the upper end, now are rejecting from there 444.65 the corresponding futures low

448.65 the corresponding futures/pre mkt high

SPY 3months, daily candles Lost the 12ema (white line) and the 200 day MA (purple line) and closed under, while confirming a new daily downtrend(support)

443.47 the low from yesterday

440.99 the 50 day MA

437.22 next(resistance)

447.90 the 200 day MA

450.03 the 12ema

449.82 small open gap

451.03 the 150 day MA

457.83 after that

QQQ 5 days, hourly candles Similar story here, Nasdaq futures tested the lower end of yesterdays range, then more recently the upper end 351.72 the corresponding futures low

355.56 the corresponding futures/pre mkt high

QQQ 3 months, daily candles Lost the daily 12ema and confirmed a new daily downtrend, testing the 50 day MA area(support)

350.56 low from yesterday

349.17 the 50 day MA

345.58 next(resistance)

356.78 the high from yesterday

358.71 the 12ema

359.93 open gap

369.26 the 200 day MA

369.31 the last daily "lower high"

April Vix futures 3months, daily candles Big up move here yesterday but gave about half back by the close; Inside bar so far today within yesterdays wide range

Spot Vix 3 months, daily candles Daily bounce follow thru and a big surge yesterday on the broad market weakness/gap down open, but a pretty big upper wick of selling also. Currently trading in the bottom 1/3rd of yesterdays range.

https://www.briefing.com/stock-market-update Futures market stabilizes from recent losses

07-Apr-22 07:56 ET

Market is Closed

[BRIEFING.COM] S&P futures vs fair value: +8.60. Nasdaq futures vs fair value: +37.50.The S&P 500 futures trade nine points, or 0.2%, above fair value as the market stabilizes from recent losses, which were driven by concerns about the Fed's hawkish-minded framework for monetary policy.

Officials in China and Japan, meanwhile, voiced contrasting viewpoints about monetary policy, tailored towards supporting the economy. China's state council, however, lacked urgency with a statement that more policy support would be provided at an appropriate time. Equity markets in both regions closed lower on Thursday.

Elsewhere, the Treasury market is being viewed as a supportive factor for the futures market with yields trading mostly lower in a curve-steepening trade.

The 2-yr yield is down four basis points to 2.45%, and the 10-yr yield is down one basis point to 2.60%. The U.S. Dollar Index is down 0.1% to 99.49. WTI crude futures up 2.4%, or $2.33, to $98.59/bbl after falling 5% yesterday.

On the data front, investors will receive the weekly Initial Claims (Briefing.com consensus 200,000) and Continuing Claims report at 8:30 a.m. ET and the Consumer Credit report for February (Briefing.com consensus $15.5 billion) at 3:00 p.m. ET. Lots more Fed chatter today, I think Yellen speaks again also


 
 
 

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