SPY / QQQ / Vix
SPY 5 days, hourly candles S&P futures hanging out near yesterdays highs, with a couple peeks thru 378.71 the corresponding futures low
381.54 the pre mkt high
SPY 3 months, daily candles The daily bounce continued yesterday, with a push above/close above the daily 12ema (white) and the 50 day MA (blue). (resistance)
380.57 the high from yesterday
388.63
390.39 (support)
379.09 the 50 day MA
377.56 the 12ema
375.53 the low from yesterday
368.79-370
QQQ 5 days, hourly candles Nasdaq futures pushed thru yesterdays highs 266.50 the corresponding futures low
269.49 the pre mkt high
QQQ 3 months, daily candles The daily bounce continued here also as it heads up to test the 12ema from below.(resistance)
268.14 the high from yesterday, trading a tad above there currently for the potential gap up open
270.40 that daily 12ema (white)
278.21
280.73 the 50 day MA (blue) (support)
263.57 the low from yesterday
259.08
Nov. Vix futures 3months, daily candles
Still hanging out near recent lows
Vix 3yr, daily candles
Hanging out near recent lows, with the RSI at a level we haven't seen in over 3 years, and a spot where historically it gets a decent bounce
XLE 3 year, weekly candles
All time high test on deck
$DXY 3 months, daily candles
The dollar trying to avoid more downside, holding up at yesterdays lows/recent lows and attempting a bounce
TLT 3 months, daily candles
All lower gaps now filled, only the recent lows remain before we push into new multi-decade lows
https://www.briefing.com/stock-market-update
S&P futures vs fair value: +5.30. Nasdaq futures vs fair value: +49.50.The S&P 500 futures are up 5 points and are trading 0.1% above fair value. The Nasdaq 100 futures are up 43 points and are trading 0.4% above fair value. The Dow Jones Industrial Average futures are up 50 points and are trading 0.2% above fair value.
Equity futures trade with a positive bias as market participants turn their attention to the midterm elections and previews highlighting a typically positive bias for the market in the 12-month period following a midterm election.
The U.S. Dollar Index is modestly higher, up 0.3% to 110.47.
Treasury yields are holding steady this morning. The 10-yr note yield is unchanged at 4.21% and the 2-yr note yield is down one basis point to 4.71%.
Energy complex futures are moving lower this morning. WTI crude oil futures are down 0.6% to $91.20/bbl and natural gas futures are down 5.1% to $6.88/mmbtu.
Economic data today was limited to the October NFIB Small Business Optimism Index, which came in at 91.3 after the prior reading of 92.1
In corporate news:
Lyft (LYFT 11.74 -2.40 -16.97%): beats by $0.02, reports revs in-line, adjusted EBITDA of $66.2 mln, ahead of its guidance; guides Q4 revs in-line, guides for adjusted EBITDA of $80-$100 mln; downgraded to In-line from Outperform at Evercore ISI
Take-Two (TTWO 89.32 -19.08 -17.60%): reports Q2 (Sep) results, misses on revs; guides Q3 revs in-line; lowers FY23 guidance
SolarEdge Technologies (SEDG 234.12 +22.82 +10.80%): misses by $0.53, beats on revs; guides Q4 revs in-line
TripAdvisor (TRIP 18.76 -5.04 -21.18%): misses by $0.10, beats on revs, expects a modest sequential slowdown in Q4 revs
Five9 (FIVN 41.65 -5.35 -11.38%): beats by $0.04, beats on revs; guides Q4 EPS, revs below consensus
DuPont (DD 63.66 +1.92 +3.11%): beats by $0.03, beats on revs; guides FY22 EPS above consensus, revs slightly below consensus
Scotts Miracle-Gro (SMG 52.81 +1.10 +2.13%): upgraded to Overweight from Equal Weight at Barclays
NVIDIA (NVDA 147.29 +4.28 +2.99%): offered alternative chip to clear export restrictions, according to WSJ.
