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Morning Market Rap 01/12/22 by CTG

SPY / QQQ / Vix

S&P futures sideways up near yesterdays highs ahead of the CPI report at 8:30et 471.17 the corresponding futures high

468.91 the corresponding futures low

SPY 3 months, daily candles The V recovery from mid-day Monday saw follow thru upward and back thru the 50 day MA; Testing the 12ema as we look for a daily "lower high" anywhere ahead of the previous all time high 469.85 the high from yesterday and first resistance, trading above there currently for the possible gap up open (CPI could change that ahead of the open)

(470 the daily 12ema (white line)

470.82 high from this past Thursday all right there

477.98, 479.98 previous ATH

466.69 the 50 day MA

462.05 the low from yesterday and next support

456.60 next

455.40 gap just missed filling on Monday

QQQ 5 days, hourly candles 387.45 the corresponding futures high

384.39 the corresponding futures low

QQQ 3 months, daily candles Follow thru upward here as well on the oversold bounce from Monday, as the bulls hope the weekly downtrend confirmation from then sees no follow thru/keeps reversing the other direction 385.99 the high from yesterday, trading above there now for the possible gap up open here as well

389.07 the daily 12ema

393.46 the flattening 50 day MA

395.89 next 377.22 the low from yesterday and first support on this timeframe

374.60 the 150 day MA

369.31 the low from Monday

364.03 the 200 day MA

January Vix futures 3 months, daily candles Right back to testing recent lows after the big follow thru upward Monday quickly reversed course, on the broad market V bounce.

(this contract expires next Tuesday)

Spot Vix 3 months, daily candles Similar look here but staying a bit stickier above recent lows and the 18 area; The daily uptrend look from Monday reversed course quickly and then lost the lows from last Friday. Gets back above 20-21 to the upside we'd take notice;

Breaks 18ish downward we'd be looking back to the 16ish level

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




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