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Market Rap 04/27/23 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures bounced off yesterdays lows, currently testing the upper end of yesterdays range 404.29 the after hours low before futures opened

407.11 the pre mkt high

SPY 3months, daily candles Lost the daily uptrend, close to a test of the 50 day MA(blue). (support)

403.78 the low from yesterday

402.37 that 50 day MA


401.60 small open gap


396.49 open gap

395.19 the 200 day MA(purple) (resistance)

407.84 the high from yesterday

409.41 the daily 12ema(white)


QQQ 5 days, hourly candles Nasdaq futures bounced off yesterdays lows following a positive META earnings reaction; Testing yesterdays highs currently 311.75 the after hours low from yesterday before the META earnings

315.05 the pre mkt high so far

QQQ 3 months, daily candles The loss of the daily uptrend/confirmed daily downtrend here saw no follow thru yesterday, then went up and hit it's head on the daily 12ema(white). Inside bar day within Tuesdays range, with a test of the last 2 days of highs to come first thing. (support)

311.34 the low from yesterday

309.89 Tuesdays low

308.20 open gap

306.74 the 50 day MA(blue)

304.77 (resistance)

314.94-314.97 the highs fro the past couple days

315.06 that daily 12ema


May Vix futures 3 months, daily candles Deflated more than half of Tuesdays move yesterday, testing yesterdays lows currently

Spot Vix 3months, daily candles The 20 level proving to be the brick wall again this week after the bounce; Testing yesterdays lows currently

[BRIEFING.COM] S&P futures vs fair value: +26.00. Nasdaq futures vs fair value: +144.00.The S&P 500 futures are up 26 points and are trading 0.6% above fair value. The Nasdaq 100 futures are up 144 points and are trading 1.1% above fair value. The Dow Jones Industrial Average futures are up 156 points and are trading 0.5% above fair value. Stock futures are moving higher after most companies reporting earnings since yesterday's close have surpassed expectations. Meta Platforms (META) is the standout in that regard, trading up 12% after its report, while several industrial companies have also pleased investors with better than expected results and/or guidance. Dow components Caterpillar (CAT) and Honeywell (HON) are among the industrial companies that exceeded expectations. Relatively strong buying interest in the Treasury market earlier this week had been a manifestation of slowdown concerns, yet market rates are moving higher this morning as some of those concerns ease on the good earnings news and guidance from the industrial sector. The 2-yr note yield is up six basis points to 3.97% and the 10-yr note yield is up four basis points to 3.46% ahead of the initial jobless claims and advance Q1 GDP reports at 8:30 a.m. ET. Oil prices are moving higher this morning. WTI crude oil futures are up 0.4% to $74.58/bbl. In corporate news:

  • Meta Platforms (META 234.68, +25.28, +12.1%): beats by $0.25, beats on revs; guides Q2 revs above consensus, lowers FY23 expense guidance, capex guidance unchanged

  • eBay (EBAY 44.83, +1.47, +3.4%): beats by $0.04, beats on revs, exceeds prior GMV forecast; guides Q2 EPS in-line, revs above consensus

  • Caterpillar (CAT 213.40, -2.79, -1.3%): beats by $1.12, beats on revs

  • Merck (MRK 115.15, +1.72, +1.5%): beats by $0.06, beats on revs; raises FY23 EPS in-line, revs in-line

  • Honeywell (HON 194.60, +3.70, +1.9%): beats by $0.14, beats on revs; raises FY23 EPS in-line, revs in-line

  • Eli Lilly (LLY 389.00, +12.73, +3.4%): misses by $0.11, beats on revs; raises FY23 guidance

  • Roku (ROKU 57.25, +0.69, +1.2%): beats by $0.10, beats on revs; guides Q2 slightly above consensus

  • Comcast (CMCSA 37.98, +1.46, +4.0%): beats by $0.10, beats on revs

  • American Airlines (AAL 12.80, +0.06, +0.5%): beats by $0.02, reports revs in-line; guides Q2 EPS above consensus; reaffirms FY23 EPS guidance

  • Bristol-Myers (BMY 68.30, +0.28, +0.4%): beats by $0.08, misses on revs; reaffirms FY23 EPS guidance, revs guidance

  • Crocs (CROX 143.50, -4.28, -2.9%): beats by $0.46, beats on revs; guides Q2 EPS in-line, revs below consensus; guides FY23 EPS in-line, revs in-line

  • Harley-Davidson (HOG 37.80, +0.80, +2.4%): beats by $0.64, beats on revs; reaffirms outlook

  • Hershey Foods (HSY 263.32, +1.57, +0.6%): beats by $0.29, beats on revs; reaffirms FY23 EPS guidance, guides FY23 revs above consensus

  • Northrop Grumman (NOC 455.00, +5.91, +1.3%): beats by $0.41, beats on revs; raises FY23 EPS above consensus, reiterates revs in-line

  • Southwest Air (LUV 29.50, -1.40, -4.5%): misses by $0.04, reports revs in-line, capacity increased 10.7%, lowers FY23 ASMs guidance, recent delays at Boeing causes company to reduce planned aircraft deliveries for 2023

  • Impinj (PI 97.50, -37.82, -28.0%): misses by $0.03, beats on revs; guides Q2 EPS below consensus, revs below consensus

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