Search

Market Rap 08/10/22 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures held the test of yesterdays lows, then pivoted to test the highs from yesterdays RTH session 410.60 the corresponding futures low

412.81 the pre mkt high

SPY 3months, daily candles Consolidating sideways up near recent highs; Bears would need to break the lows from 8/5 along with the daily 12ema to get any kind of traction. (support)

410.22 the low from yesterday

409.60 Fridays low

407.50 the daily 12ema (white line)

406.82

398.15 (resistance)

412.75 the high from yesterday

417.62 the recent high

QQQ 5 days, hourly candles Nasdaq futures similar look - Tested yesterdays lower range, then bounced to test the upper end of yesterdays RTH range 316.11 the corresponding futures low

318.76 the pre mkt high

QQQ 3 months, daily candles Seeing a bit more consolidation here as the daily 12ema test comes into view (support)

315.42 the low from yesterday

314.23 the daily 12ema (white line)

311.84 next

309.93

302.75 (resistance)

319.03 the high from yesterday

319.21 open gap

326.47 the recent high

326.72 the 150 day MA

August Vix futures 3 months, daily candles Relatively weak bounce off the recent lows still, watching for any signs of strength

Spot Vix 3 months, daily candles Relatively weak "oversold" bounce here as well, as it hangs out in the lows 20s. Daily ranges on the indices will be narrower than what we'd been used to when the Vix was regularly in the mid to high 20s a couple months ago.

https://www.briefing.com/stock-market-update [BRIEFING.COM] S&P futures vs fair value: +10.60. Nasdaq futures vs fair value: +33.10.The S&P 500 futures are up 12 points and are trading 0.2% above fair value. The Nasdaq 100 futures are up 54 points and are 0.3% above fair value. The Dow Jones Industrial Average futures are up 70 points and are trading 0.4% above fair value. Futures for the major indices are modestly higher ahead of the anticipated July CPI report at 8:30 a.m. ET following two losing sessions. Market participants are also digesting another batch of earnings which resulted in outsized moves both to the upside and downside for individual stocks. In other news, China has ended its military exercises in Taiwan. Earlier, the weekly MBA Mortgage Applications Index showed a modest 0.2% increase versus the prior increase of 1.2%. Energy complex futures are falling this morning. WTI crude oil futures are down 1.8% to $88.87/bbl. Natural gas futures are down 1.0% to $7.75/mmbtu. The 2-yr note yield is unchanged at 3.27% while the 10-yr note yield is down one basis point at 2.79%. In corporate news:

  • Coinbase Global (COIN 83.14, -4.54, -5.18%): misses by $3.75, misses on revs; guides to average MTUs of 7-9 mln for FY22; downgraded to Underperform from Mkt Perform at Keefe Bruyette

  • Akamai Tech (AKAM 93.20, -1.88, -1.98%): beats by $0.04, reports revs in-line; Guides Q3 and FY22 revenue and EPS below consensus

  • Wynn Resorts (WYNN 64.00, -2.03, -3.07%): beats by $0.15, misses on revs

  • Roblox (RBLX 40.30, -7.05, -14.89%): misses by $0.04, beats on top line

  • The Trade Desk (TTD 63.56, +9.06, +16.62%): reports EPS in-line, beats on revs; guides Q3 revs above consensus

  • Workiva (WK 79.00, +10.48, +15.29%): beats by $0.09, beats on revs; guides Q3 EPS below consensus, revs in-line; guides FY22 EPS above consensus, revs above consensus

  • Sweetgreen (SG 12.93, -3.92, -23.26%): misses by $0.21, misses on revs; guides FY22 revs below consensus, lowers FY22 EBITDA and comp guidance; began to see softness in revenue around Memorial Day

  • Tesla (TSLA 864.15, +14.15, +1.66%): CEO Elon Musk sells 7.92 million shares saying, "In the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock"

2 views0 comments

Recent Posts

See All