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Market Rap 04/14/22 by CTG

willpletcher

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures trading near yesterdays upper range currently, after seeing a slight break thru RTH levels overnight 444.64 the corresponding futures high

442.60 the corresponding futures/pre mkt low so far (as we currently pull off a bit more)

SPY 3months, daily candles Closed back above the 50 day MA yesterday, inside bar created, watching for which way that breaks today/next week (support)

441.16 the 50 day MA

437.84 low from yesterday

436.65 next

433.19 after that (resistance)

444.11 the high from yesterday

445.75 next

445.94 small open gap

446.03 the 12ema

448.34 the 200 day MA

450.63-450.69 the last daily "lower high" area

450.76 the 150 day MA

QQQ 5 days, hourly candles Nasdaq futures also saw a slight break thru yesterdays RTH levels, consolidating a bit currently also 348.24 the corresponding futures high

345.65 the corresponding futures/pre mkt low so far

QQQ 3 months, daily candles Inside bar day on watch here as well, still under the 50 day MA (support)

339.06 the low from yesterday and first support

338.04 previous days low

328.40 after that (resistance)

347.43 the high from yesterday

347.69 previous days high

348.45 the 50 day MA

348.50 small open gap

351.08 the 12ema

353.09 after that

April Vix futures 3 months, daily candles Daily consolidation underway after a big pullback yesterday, testing yesterdays lows currently

Spot Vix 3 months, daily candles Daily consolidation of this recent move underway here also; Testing yesterdays lows. Anything above 20.28 lows from 4/8 is the next daily "higher low" here, in the context of a daily uptrend (that saw no follow thru 4/12) if it holds above there

https://www.briefing.com/stock-market-update Futures flat in busy news morning

14-Apr-22 07:57 ET

Market is Closed

[BRIEFING.COM] S&P futures vs fair value: +0.20. Nasdaq futures vs fair value: +4.50.

The S&P 500 futures trade roughly in-line with fair value in a busy news morning before the market closes for Good Friday tomorrow.

Starting with earnings news, UnitedHealth (UNH 539.80, +2.80, +0.5%), Morgan Stanley (MS 85.30, +1.17, +1.6%), and Goldman Sachs (GS 328.68, +6.71, +2.1%) each beat top and bottom-line estimates, while Wells Fargo (WFC 46.88, -1.66, -3.4%) trades lower by 3% after missing revenue estimates.

Twitter (TWTR 49.09, +3.22, +7.0%), meanwhile, is up 7% after Elon Musk offered to acquire the company for $54.20 per share in cash. Twitter said it will carefully review the proposal, which is Mr. Musk's "best and final offer."

Elsewhere, the European Central Bank made no changes to interest rates, as expected, and said incoming data since its last meeting reinforced expectations for net asset purchases under the APP should be concluded in the third quarter.

In economic data, Retail Sales for March (Briefing.com consensus 0.6%), weekly Initial Claims (Briefing.com consensus 175,000), and Import and Export Prices for March will be released at 8:30 a.m. ET, followed by the preliminary University of Michigan Index of Consumer Sentiment for April (Briefing.com consensus 58.8) and Business Inventories for February (Briefing.com consensus 1.3%) at 10:00 a.m. ET.

U.S. Treasuries are up for the third straight day, pushing yields slightly lower. The 2-yr yield is down one basis point to 2.33%, and the 10-yr yield is down two basis points to 2.67%. The U.S. Dollar Index is down 0.2% to 99.68. WTI crude futures are down 1.2%, or $1.25, to $103.04/bbl.


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