Morning Market Rap 10/04/21 by CTG
SPY / QQQ / Vix
SPY 5 days, hourly candles S&P futures initially opened up near Friday's highs; they've since been consolidating Friday's oversold hourly/4hr bounce 435.80ish the corresponding futures high
431.28 the corresponding futures low so far
SPY 3 months, daily candles Fridays lower lows under 9/20's lows saw no follow thru and a quick reversal the other direction, as the hourly and 4hr timeframes were pretty oversold; Daily and weekly uptrends have been lost so bulls still have a lot of work to do to repair these daily charts 427.23 the lows from Friday and first support
423.66 the 150 day MA
421.97 next weekly support
412.79 the 300 day MA436.03 the high from Friday and first resistance
436.77-437.04 next area
440.04 after that with an open gap to 441.90
443.33 the flattening 50 day MA
QQQ 5 days, hourly candles Nasdaq futures attempted a brief push over Friday's highs when they opened, followed by consolidation since then of Friday's oversold hourly/4hr bounce gains 361.50ish the corresponding futures high
357.03 the corresponding futures low
QQQ 3 months, daily candles Confirmed daily downtrend in play here with a loss of the weekly uptrend last week 354.38 the low from Friday and first support
352.04 weekly support next
346.81 the 150 day MA
340.19 the 200 day MA 361.25 the high from Friday and first resistance
362.68-363.37 next area
370.62 the flattening 50 day MA
Oct Vix futures 3 months, daily candles This contract saw a push to higher highs early Friday AM as the broad market took it's next leg lower in futures action; About half of the recent surge off the lows then retraced, as fear was alleviated some on the S&P, Nasdaq, Russell bounces.
So far today we're holding the lows of Friday and trickling back up a bit on broad market futures softness.
Spot Vix 3 months, daily candles Big crush on Friday from 25 back to roughly 21; Getting about half of that back in pre mkt and hanging out around 23 currently. Wide ranges and big moves should be expected, both directions, until this settles down and it gets back under 20.