Morning Market Rap 02/14/22 by CTG
SPY / QQQ / Vix
SPY 5 days, hourly candles S&P futures decisively broke Friday's RTH lows early this AM; Seeing an hourly and 4hr oversold bounce now back above those levels after Lavrov comments 435.24 the corresponding futures low
442.15 the corresponding futures high
SPY 3 months, daily candles New confirmed daily downtrend here to end last week, on increasing volume, along with a break/close below the 200 day MA 438.94 the low from Friday and first support
420.76 January low after that 444.11 the 200 day MA back overhead
451.61 the high from Friday next
451.63 the 150 day MA
QQQ 5 days, hourly candles Nasdaq futures also decisively broke Fridays lows; also currently seeing it's hourly/4hr oversold bounce after Lavrov comments 342.20 the corresponding futures low
348.47 the corresponding futures high
QQQ 3 months, daily candles Confirmed daily downtrend here as well after the break of recent support 345.80 the low from Friday and first support
337.95 after that
334.15 January low next 360.07 the high from Friday and first resistance on this timeframe
366.81 the 200 day MA
IWM 3 months, daily candles Bit of a different look here, daily uptrend still intact anywhere above 194.92 199.62 the low from Friday and first support
194.42 the last daily "higher low" and spot for bulls to stay above to keep the uptrend on this timeframe 206.06 the high from Friday and first resistance
211.90 the 50 day MA
March Vix futures 3months, daily candles
(Moving onto March contract, Feb expires tomorrow; At that point the movement of VXX, UVXY will be 100% controlled by that contract, with April creeping into the calculation every day after that) A bounce off recent lows Thursday saw big follow thru Friday on Russian invasion fears. Some more follow thru earlier this AM getting sold currently, with some upper wicks of selling.
Extremely high levels of vol in play again, expect wide intraday ranges and lots of movement.
Spot Vix 3 months, daily candles A break of the downtrend here on Friday and a push up into the low 30s saw some follow thru earlier this AM on broad market futures weakness; Getting reversed currently but lots of movement and wide ranges should be expected today with the Vix trading in the upper 20s
https://www.briefing.com/stock-market-update Stock Market Update Futures reclaim overnight losses amid newfound hope surrounding Russia, Ukraine
14-Feb-22 08:00 ET
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: -0.20. Nasdaq futures vs fair value: +16.30.
The S&P 500 futures trade roughly in-line with fair value after Russian Minister of Foreign Affairs Sergei Lavrov said there's a chance for an agreement on security issues. The S&P 500 futures were trading as low as 1.2% below fair value on continued fears of Russia invading Ukraine.
The news comes after there were no reported changes in diplomatic relations over the weekend and a White House statement indicating that President Biden warned Russian President Putin that the U.S. and its allies would respond decisively and impose swift and severe costs on Russia if it invades Ukraine.
The Treasury market has been a little bit more reserved. The 2-yr yield is up three basis points to 1.55%, and the 10-yr yield is unchanged at 1.96%. The U.S. Dollar Index is up 0.1% to 96.16. WTI crude futures are down 0.6% to $92.55/bbl. Natural gas futures are up 3.8% to $4.09/MMBtu.
Separately, shares of Splunk (SPLK 124.47, +9.96, +8.7%) are up 9% in pre-market action after The Wall Street Journal reported that Cisco (CSCO 53.55, -0.35, -0.7%) is aiming to purchase the company for $20 billion. Bullard CNBC interview at 8:30 et
(no other economic data scheduled)