Morning Market Rap 02/08/22 by CTG
SPY / QQQ / Vix
SPY 5 days, hourly candles S&P futures drifting lower, testing yesterdays RTH low currently 445.94 the corresponding futures low so far
449.12 the corresponding futures high
SPY 3 months, daily candles Inside bar day yesterday, eyes on which way that breaks today 445.85 the low from yesterday and first support, looking to get tested first thing
443.83 after that
443.48 the 200 day MA
439.81 next support before we look back to the last daily "higher low" support at
427.82 450.99 the high from yesterday and first resistance, just under the 150 day MA at
452.78-452.97 after that
460.20 the 50 day MA
QQQ 5 days, hourly candles Nasdaq futures fading lower, breaking yesterdays RTH lows 353.21 the corresponding futures low so far
356.55 the corresponding futures high
QQQ 3 months, daily candles Inside bar day yesterday here also, already starting to break bearish here in pre mkt, but we'll see where we're at when regular trading hours open 353.84 the low from yesterday and first support, trading right around there currently
350.31 after that, which was Friday's pre mkt low, just before the market opened and saw the strong bounce
Lose all those levels and we're looking back to the last daily "higher low" at
337.95 361.05 was the high from yesterday and first resistance
361.40-361.93 right there after that
364.29 open gap
366.46 the 200 day MA
370.10 after that
Feb Vix futures 3 months, daily candles Attempting to hold up at yesterdays lows. If the broad market inside bars break bearish, we're looking at 24.70 next then 26.10 after that.
Spot Vix 3 months, daily candles Inside bar day here yesterday, and another so far today, trading right in the middle of yesterdays range 24.82 the first level to watch to the upside then 26.26 after that 22.38 then 22.02 the levels to watch to the downside, then
20.46 after that
IWM 5 days, hourly look Note-able mention for holding up much better than the S&P or Nasdaq, well off yesterdays lows still and trading in the middle of yesterdays range currently
https://www.briefing.com/stock-market-update Futures trade mixed amid mixed corporate news
08-Feb-22 08:00 ET
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: -0.60. Nasdaq futures vs fair value: -49.00.The S&P 500 futures trade roughly in-line with fair value as the market struggles to find direction amid mixed corporate news.
Starting with earnings, Pfizer (PFE 51.39, -1.82, -3.4%), Take-Two Interactive (TTWO 171,00, -4.10, -2.3%), Peloton (PTON 27.89, -1.86, -6.3%), and Simon Property Group (SPG 145.60, -3.32, -2.2%) are some of the company's since yesterday's close that issued downside guidance, although plenty of companies did beat EPS estimates and issued upbeat guidance.
The real story with Peloton, though, is that the company announced co-founder CEO John Foley will be replaced by Barry McCarthy, who has held senior leadership and advisory roles with successful technology companies. Mr. Foley will become Executive Chair, starting tomorrow.
Separately, NVIDIA (NVDA 244.40, -2.88, -1.2%) confirmed it terminated its planned acquisition of Arm Holdings, losing a $1.25 billion deposit.
On the data front, investors will receive the Trade Balance report for December (Briefing.com consensus -$79.6 billion) at 8:30 a.m. ET. Earlier, the NFIB Small Business Optimism Index for January decreased to 97.1 from 98.9 in December.
U.S. Treasury yields have edged higher amid word from Russian President Putin that diplomatic ideas can be discussed regarding Ukraine. The 2-yr yield is up three basis points to 1.32%, and the 10-yr yield is up two basis points to 1.94%. The U.S. Dollar Index is up 0.2% to 95.57. WTI crude futures have slipped below $90 per barrel ($89.48, -1.84, -2.0%).
XLF, XLE, IWM, XBI some of the stronger sectors holding up better than SPY and QQQ compared to yesterdays lows