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Morning Market Rap 09/22/21 by Dan DiVenti

SPY / QQQ / Vix SPY 5 days, hourly candles Futures bounced back into the middle/upper end of yesterdays range as we tighten up into the FOMC 431.82 the futures low

436.56 the futures high

SPY 3 months, daily candles A brief attempt and push into the upside gap yesterday reversed. Daily bear flag possible if we can't push up and close that gap, test the 50 day MA from underneath.

Monday lows the area for bulls to defend today/after Fed announcement. 433.07 the low from yesterday and first support

428.86 lows from Monday

421.97 next weekly support (420.99 the 150 day MA)

410.01 the 200 day MA 437.91 the high from yesterday and first resistance

441.02 closes the upside gap

442.62 the 50 day MA

QQQ 5 days, hourly candles Similar look here to the S&P from yesterday, hourly trend change attempts saw no follow thru during regular trading hours, tightening up into the FOMC 364.09 the futures low

367.80 the futures high

QQQ 3months, daily candles Attempt to push over's Monday's high failed yesterday, another day under the 50 day MA 364.99 the low from yesterday and first support

360.93 low from Monday

359.96 weekly support

352.04 next weekly support level 368.81 the high from yesterday and first resistance with

369.25 high from Monday right afterward

followed closely by

369.80 the 50 day MA

372.76 fills the upside gap

Oct Vix futures 3months, daily candles Gave back more than half of the Monday surge yesterday, testing yesterdays low area currently

Spot Vix 3 months, daily candles Came close to filling the gap up from Friday-Monday but staying sticky above 20 for now into the FOMC, so no all clear yet

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