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"
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