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Morning Market Rap 01/05/22 by CTG

SPY / QQQ / VIX S&P futures tested yesterday's RTH lows overnight 476 the corresponding futures low

477.94 the corresponding futures high

SPY 3 months, daily candles Daily bull flag started to follow thru to new all time highs before reversing 479.98 the new ATH and only resistance on this timeframe 475.58 the low from yesterday and first support

473.85 the new daily "higher low" and just above the 12ema of

473.16 - bears get no traction as long as we're above those levels

467.81 small open gap

465.60 the 50 day MA

QQQ 5 days, hourly candles Nasdaq futures tested the lower end of yesterdays range but mostly sideways down in that lower end of the RTH range 394.15 the corresponding futures low

396.53 the after hours high yesterday, before futures opened

QQQ 3 months, daily candles Broke the 12ema, closed below, and tested the 50 day MA before seeing a bounce as rising interest rates saw rotation out of tech and into other sectors like energy (XLE) and financials (XLF). Bearish engulfing candle on the day. 393.33 the 50 day MA

393.29 the low from yesterday

388.23 next support area

377.47 recent lows next major support, weekly support 402.28 the high from yesterday and first resistance

403.57-404.58 after that

January Vix futures 3 months, daily candles Still not seeing much lift here as the weakness yesterday in certain sectors like tech (QQQ) and healthcare (XLV) was offset by strength in energy (XLE) and financials (XLF), rather than being a fear based full risk off.

Spot Vix 3 months, daily candles Similar story here, not much concern from the Vix complex. Slight lower lows yesterday saw some wiggle of reversal but failed to push over the highs from the previous day, daily inside bar day so far today in a very tight range.

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