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Market Rap 09/09/22 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures with a big bull break over yesterdays highs/last Friday's highs 404.28 the pre mkt high

400.37 the after hours low from yesterday, before futures opened

SPY 3 months, daily candles Daily bounce continued yesterday, with a gap up open back over the 50 day MA/daily 12ema shaping up for today (resistance)

400.86 the high from yesterday - trading well above there currently for the gap up open set up

401.56 the high from last Friday

401.65 the 50 day MA (blue line)

401.69 the daily 12ema (white line)

Gap up over all those levels in play

405.84 next(support)

394.12 the low from yesterday

390.20 after that

QQQ 5 days, hourly candles Strong futures bull break over yesterdays highs, peeking over last Friday's highs 304.34 the pre mkt high

300.41 the after hours low from yesterday before futures opened

QQQ 3 months, daily candles Daily bounce continued yesterday; gap up open right to last Fridays highs/daily 12ema shaping up for today (resistance)

301.87 the high from yesterday - trading well above there currently for the gap up open set up

303.75 the high from last Friday

303.77 the daily 12ema

306.09 the 50 day MA

307.22 (support)

295.45 the low from yesterday

293.27

Sept Vix futures 3 months, daily candles Convincing back down yesterday, more follow thru today

Spot Vix 3 months, daily candles Similar look here - sell off yesterday, continuing today and peeking under last Fridays lows. If we see continued follow thru today 21.67 is the next area to watch

$DXY 5 days, hourly candles The dollar daily consolidation continues - a strong flush overnight is currently seeing it's first hourly oversold bounce

https://www.briefing.com/stock-market-update [BRIEFING.COM] S&P futures vs fair value: +29.30. Nasdaq futures vs fair value: +118.40.The S&P 500 futures are up 29 points and are trading 0.7% above fair value. The Nasdaq 100 futures are up 120 points and are trading 0.9% above fair value. The Dow Jones Industrial Average futures are up 197 points and are trading 0.6% above fair value. The equity futures market has a decidedly positive bias with carryover momentum from recent gains driving the upside. Other support factors include softer-than-expected CPI and PPI readings out of China, a weakening dollar, better-than-expected results and guidance from DocuSign (DOCU), and bearish investor sentiment readings that are acting as a contrarian catalyst. The US Dollar Index is down 0.7% to 108.94. EUR/USD is up 0.6% to 1.0054. USD/JPY is down 1.1% to 142.55 after BOJ Governor Kuroda said rapid moves in the yen are not desirable. At the same time, cryptocurrencies are in rally mode with the risk-on sentiment. The 2-yr Treasury note yield is flat at 3.49% while the 10-yr note yield is down two basis points to 3.27%. In corporate news:

  • RH (RH 265.00 +3.29 +1.26%): beats by $1.38, beats on revs; guides Q3 revs below consensus; guides FY23 revs in-line

  • DocuSign (DOCU 67.51 +9.56 +16.50%): beats by $0.02, beats on revs; guides Q3 revs in-line; reaffirms FY23 revs guidance

  • Zscaler (ZS 176.67 +22.42 ): beats by $0.04, beats on revs; guides Q1 EPS above consensus, revs above consensus; guides FY23 EPS above consensus, revs above consensus

  • T-Mobile US (TMUS 147.77 +2.40 +1.65%): authorizes a stock repurchase program for up to $14.0 bln of common stock through September 30, 2023 - SEC Filing

  • Zumiez (ZUMZ 22.66 -3.88 -14.62%): misses by $0.31, misses on revs; guides Q3 EPS below consensus, revs below consensus

  • Caterpillar (CAT 186.00 +2.85 +1.56%): reaches a settlement with the IRS that resolves all issues for tax years 2007-2016, without any penalties Fed chatter on tap


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