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Market Rap 06/27/22 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures seeing some more follow thru of last weeks rally. 4hr RSI pushing into overbought territory. 392.94 the corresponding futures/pre mkt high

388.32 the corresponding futures low

SPY 3 months, daily candles and 3yrs, weekly candles Big follow thru over the daily 12ema (white line) and the post Fed high from 6/15. Daily downtrend broken, weekly bounce underway/with weekly downtrend still in play; looking for a weekly lower high anywhere under 417.44.

(resistance)

390.09 the high from Friday, trading a bit above there currently for the gap up open set up

395.78 next

401.44 the next open gap

404.76 the weekly 12ema

405.81the 50 day MA (support)

383.32 the daily 12ema

381.37 the low from Friday

378.83 open gap

370.18 next

369.38 small open gap


QQQ 5 days, hourly candles Nasdaq futures also seeing follow thru over Fridays highs 297.80 the corresponding futures/pre mkt high 293.75 the corresponding futures low

QQQ 3 months, daily candles and 3yr, weekly candles Big follow thru over the post Fed highs from 6/15, daily downtrend broken/weekly downtrend still in play; Looking for a weekly "lower high" anywhere under 314.56. (resistance)

295.04 the high from Friday, trading over there currently for the gap up open set up

299.23 open gap

305.42 the 50 day MA

306.89 the weekly 12ema (support)

287.50 the low from Friday

286.74 the daily 12ema

285.72 open gap

280.31 next

277.91

277.19 open gap


July Vix futures 3 months, daily candles More vol crush on Friday, resisting any lower lows under Friday's, so far

Spot Vix 3 months, daily candles Pushed under the 6/15 post Fed lows here Friday, seeing some lift back above those levels and trading in the middle of Fridays wider range currently.

Watching to see which way todays inside bar breaks:

29.72 the high from Friday

26.83 the low from Friday

https://www.briefing.com/stock-market-update Rebound trade carries over 27-Jun-22 08:03 ET Market is Closed [BRIEFING.COM] S&P futures vs fair value: +14.50. Nasdaq futures vs fair value: +79.80. The S&P 500 futures are up 14 points and are trading 0.4% above fair value. The Nasdaq 100 futures are up 79 points and are trading 0.7% above fair value. The Dow Jones Industrial Average futures are up 119 points and are trading 0.4% above fair value. The market seems headed for a higher open with rebound momentum from last week's rally as the biggest driving force. There's a few pieces of relatively negative news that are not overpowering the rally effort. The International Monetary Fund released new projections indicating the U.S. will narrowly avoid a recession. The Bank of International Settlements warned about a global risk of stagflation. Also, San Francisco Fed President Daly noted that she sees additional tightening beyond the neutral rate. Separately, the G7 leaders are discussing import bans for Russian gold. This news comes as Russia experienced its first major foreign debt default since 1918. In corporate news:

  • AutoZone (AZO 2199.99, +41.08, +1.9%): upgraded to Buy from Neutral at Goldman Sachs

  • Coinbase (COIN 59.31, -3.40, -5.4%): downgraded to Sell from Neutral at Goldman Sachs

  • Spirit (SAVE 2316, -1.36, -5.6%): says JetBlue offer not superior to one from Frontier; Frontier raises cash portion of its bid

  • Altria (MO 43.62, +0.22, +0.5%): Federal Court blocks FDA's ban on JUUL e-cigarettes


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