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Morning Market Rap 09/24/21 by CTG

SPY / QQQ / Vix SPY 5 days, hourly candles S&P futures cooling off overbought hourly RSI conditions, pulling back into the middle of yesterdays intraday range 440.95 the corresponding futures low so far

444.39 the corresponding futures high

SPY 3months, daily candles Filled the daily gap and closed back above the 50 day MA. Currently back below there in futures action. Watching for a daily "lower high" to be set once this bounce tops out, then bulls will look to form a daily "higher low" anywhere above Monday's lows with the room created on this current bounce. 442.81 the 50 day MA

444.89 the high from yesterday and next resistance

448.34-448.92 area after that 439.60 the low from yesterday and first support

433.07-433.75 area next 428.86 the most important area for bulls to hold above once this current bounce tops out

QQQ 5 days, hourly candles

Similar look here on Nasdaq futures, but a bit of a deeper pullback into yesterdays lower end of the range from regular trading hours as interest rates see some surge reactions after the Fed.

370.43 the corresponding futures low so far

373.71 the corresponding futures high

QQQ 3months, daily candles Filled the daily gap here also, closed back above the 50 day MA. Currently headed for a test of that level in pre mkt action.

370.14 the 50 day MA

370.10 the low from yesterday and next support

364.99-365.96 next area of support

360.93 the most important area for bulls to defend once this daily move tops out 374.04 the high from yesterday and first resistance 378.90 after that

Oct Vix 3months, daily candles Getting some bounce off the recent lows from before the Friday/Monday spike; after the big vol crush we've seen the past 3 days on the broad market relief bounce

Spot Vix 3months, daily candles Flirting with 20 again as the daily chart is looking for a "higher low" above 17.65

TLT 5 days, hourly candles Pushed to oversold hourly RSI on the recent quick spike in yields after the FOMC, trying to stabilize currently which should help the Q's if it can


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