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Market Rap 05/13/22 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures pushing thru yesterdays highs, as the daily bounce looks to get underway today 390.15 the after hours low from yesterday, before futures opened

397.30 the futures/pre mkt high so far

SPY 3months, daily candles Daily bounce looking to get underway as we're currently trading over yesterdays high, and shaping up for the gap up open (support)

385.15 the low from yesterday and first support on this timeframe

371.88 weekly support going back to March '21 after that (resisatnce)

395.80 the high from yesterday, trading over there currently

404.04-406.41

408.81 the daily 12ema (white line)

414.80 after that, and the spot where volume profile starts to get heavier

QQQ 5 days, hourly candles Nasdaq futures with the similar story, trading over yesterdays highs 289.04 the after hours low from yesterday before futures opened

296.75 the corresponding futures/pre mkt high so far

QQQ 3 months, daily candles Daily bounce looking to get underway here as well, as we're setting up for the small gap up open (support)

284.84 the low from yesterday and first support on this timeframe

280.62 weekly support going back to Nov '20 (resistance)

295.75 the high from yesterday, trading over there by a tad currently

304.09-305.76

308.87 the daily 12ema (white line)

315.09 the 5/6 high, and the area where more volume profile start to come in

May Vix futures 3 months, daily candles (these expire Tuesday so next week I'll move onto the June contract) Backing off further today after indecision day yesterday, pushing under the lows from the past week

Spot Vix 3 months, daily candles Back testing the 30 area (but still currently above), as this falls back to levels we saw a week ago (29.83 was last Friday's low)

If we see any follow thru under that level, mid 20s the area of interest after that.

31.20 the high so far today, as the area to watch and be more cautious if we start to follow thru over that once the regular session gets underway.

10 yr up a little but below 3%


% above the 200day lower

% above the 50day lower

DXY holding up at the highs

30 yr Mort

SPY hit the covid low AVWAP zone.

AAPL weekly bounce off the Aug 2020 high avwap

covid low avwap 14% below

BTC weekly

bounce off the retest of the lower channel back above the covid low avwap

TSLA weekly pre market bounce on the Twitter news.

782 for the close above the .382fib

put call ratio rising

QQQ weekly

https://www.briefing.com/stock-market-update Futures rise at end of terrible week 13-May-22 07:58 ET Market is Closed [BRIEFING.COM] S&P futures vs fair value: +53.60. Nasdaq futures vs fair value: +221.50. The S&P 500 futures trade 56 points, or 1.4%, above fair value at the end of a terrible week in which the benchmark index almost entered bear market territory yesterday. Besides a dip-buying mentality, supportive factors include Fed Chair Powell reiterating in a MarketPlace interview that additional 50-basis point increases at the next two meetings would still be appropriate, and Beijing saying it was not headed for a COVID-related lockdown like Shanghai. In addition, there are relief bids and/or short-covering activity in stocks like Affirm Holdings (AFRM 24.57, +6.53, +36.2%) and Duolingo (DUOL 78.78, +11.80, +17.6%) following their earnings reports, as well as in Robinhood Markets (HOOD 10.48, +1.92, +22.4%) after Emergent Fidelity disclosed a 7.6% active stake in the company. Treasury yields are moving higher amid the positive bias in the futures market. The 2-yr yield is up seven basis points to 2.68%, and the 10-yr yield is up eight basis points to 2.90%. The U.S. Dollar Index is down 0.1% to 104.70. WTI crude futures are up 1.6%, or $1.71, to $107.83/bbl. On the data front, investors will receive Import and Export Prices for April at 8:30 a.m. ET, and the preliminary University of Michigan Index of Consumer Sentiment for May (Briefing.com consensus 63.5) at 10:00 a.m. ET. In U.S. corporate news:

  • Affirm Holdings (AFRM 24.57, +6.53): +36.2% after beating revenue estimates and guiding FY22 revenue above consensus.

  • Robinhood Markets (HOOD 10.48, +1.92): +22.4% after Emergent Fidelity disclosed a 7.6% active stake in the company. Sam Bankman-Fried, CEO of crypto exchange FTX, is a majority holder in the fund.

  • Duolingo (DUOL 78.78, +11.80): +17.6% after beating revenue estimates, guiding Q2 revenue above consensus, and raising its FY22 revenue outlook.

  • FIGS (FIGS 9.61, -3.24): -25.2% after missing top and bottom-line estimates and guiding FY22 revenue below consensus.

  • Twitter (TWTR 39.10, -5.98): -13.3% after Elon Musk tweeted, "Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users." Note, Mr. Musk just tweeted that he is still committed to the deal.


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