Morning Market Rap 01/11/22 by CTG
SPY / QQQ / Vix
SPY 5 days, hourly candles S&P futures continued yesterdays V bounce from deep oversold hourly, 4hr RSI conditions 468.06 the corresponding futures high
464.75 the corresponding futures low
SPY 3 months, daily candles Deeper test of the Dec lows here yesterday and convincing flush of the 50 day MA, before the V bounce that filled the gap created at the open 465.74 the high from yesterday, trading above there now setting up for the gap up open
466.48 the 50 day MA - trading just above that level currently
469.20, 470.82 next 456.60 the low from yesterday and first support
451.14, 448.92 after that
448.10 the 150 day MA
QQQ 5 days, hourly candles Nasdaq futures seeing similar follow thru over yesterdays V bounce highs from regular hours 383.43 the corresponding futures high
379.50 the corresponding futures low
QQQ 3 months, daily candles Big flush of the Dec. lows here yesterday, along with a convincing pierce of the 150 day MA before the V recovery that had it close back above that level 380.64 the high from yesterday, trading above that level currently setting up for the gap up open
385.76, 387.35 next resistance(s) 374.27 the 150 day MA
369.31 the low from yesterday and next support
363.68 the 200 day MA
360.69 open gap from October
QQQ weekly chart Confirmed a weekly downtrend yesterday which hasn't happened post-Covid crash; V bounce and close back above the 377.47 level that was lost has the bulls hoping for the "confirmed weekly downtrend, no follow thru" look for the 11th hour save
January Vix futures 3 months, daily candles Big follow thru upward here yesterday and test of Dec volatility levels, followed by a swift flush to lower lows compared to Thurs/Fri lows after the broad market indexes saw their V bounce
Spot Vix 3 months, daily candles Similar look here with a big move over the 20 level and a 23.33 print as the days high, before giving it all back and closing red and back under 20. Still holding above levels seen Thurs/Fri here with 18.57-19 as the first levels of "support" to watch
TLT 6 months, daily candles A test of the October lows here followed by a reversal and bullish piercing candle on the daily; Thurs/Fri lows here refused to breakdown even as the broad market was in free fall. Watching today for follow thru and more technical confirmation of the reversal.
IWM 3 months, daily candles Still a potential inverted head and shoulders set up here, even tho we briefly broke the 212.71 level along with follow thru under there. A strong reversal hammer candle on the daily probably keeps that pattern alive, but on life support; Follow thru upward for confirmation today needed.
215.93 open gap never filled yesterday, unlike the SPY and QQQ gaps.
Powell helmets on right after the open