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Morning Market Rap 01/07/22 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures mostly sideways in the middle of yesterdays range ahead of the December jobs report, after a test of the lower end from the RTH close 467.24 the corresponding futures low

469.70 the corresponding futures high

SPY 3 months, daily candles Tested the 50 day MA yesterday and bounced after a slight pierce thru. Potential reversal doji candle off that level, would be confirmed with an open, and more importantly a close above 467.94 with the 12ema back overhead at 471.73 466.10 the 50 day MA then

465.43 the low from yesterday as the first support zone

455.40 small open gap

448.92-451.14 recent December lows as next major support 470.82 the high from yesterday and first resistance

471.73 the 12ema

477.98 next resistance

QQQ 5 days, hourly candles Nasdaq futures trading in the middle of yesterdays RTH range ahead of the Dec. jobs report, after testing the lower end early this AM 382.13 the corresponding futures low

386.25 the corresponding futures high

QQQ 3 months, daily candles Gapped down and tested the lower end of Decembers lows before seeing the hourly/4hr oversold bounce 380.13 the low from yesterday and first support

377.47 next, and important spot for bulls to stay above to avoid a weekly downtrend confirmation

373.69 the 150 day MA after that

372.39 a pivot low from late October

363.02 the 200 day MA 387.35 the high from yesterday and first resistance

393.55 50 day MA overhead after that

395.89 next resistance

January Vix futures 3 months, daily candles Backed off from the surge highs seen early AM yesterday morning with a big upper wick and potential reversal doji; watching for downside follow thru/confirmation today to see if fear alleviates, or if this turns out to be a daily bull flag look and pause before a pivot to higher highs. Anything above the 20.22-20.51 area keeps the bull flag potential in play.

Spot Vix 3months, daily candles Similar look here as we're holding most of the bounce for now, and magneting around either side of the 20 psychological level; Anything above 19.08 keeps the daily bull flag potential in play.

https://www.briefing.com/stock-market-update



After the jobs report, lots of Fed chatter today^

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