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Morning Market Rap 10/06/21 by CTG

SPY / QQQ / Vix SPY 5 days, hourly candles S&P futures right back to testing the lower end of the range from the last couple days 426.95 the corresponding futures low

433.50 the corresponding futures high

SPY 3 months, daily candles Daily bounce underway yesterday with a higher high over Friday's high, but that already looks to be the daily "lower high" based on futures action and the gap down open shaping up; Every bounce attempt so far is rejecting at or under the 12ema (white line) 429.39 the low from yesterday; Trading under there now so gap down open setting up

426.36 next support

425.65 after that and the lows from Friday morning futures action

424.28 the 150 day MA

421.97 weekly support from July

413.39 the 200 day MA 435.39 the high from yesterday and first resistance

436.03-437.04 next area

442.94 the slowly declining 50 day MA overhead

QQQ 5 days, hourly candles Similar look here, Nasdaq futures testing yesterdays lower end351.68 the corresponding futures low

357.77 the corresponding futures high

QQQ 3 months, daily candles The daily oversold bounce got underway here yesterday cooling off the oversold RSI; a gap down open shaping up for today353.48 the low from yesterday, trading a tad under there now setting up the gap down potential

350.32 the low from yesterday and next support

347.36 the 150 day MA

340.64 the 200 day MA and some more potential support in that area as it was the previous break out spot in June 359.69 the high from yesterday and first resistance

361.25-363.37 next resistance area

370.08 the declining 50 day MA overhead

Oct Vix futures 3 months, daily candles The contract that just won't die; Testing into the upper end of the range from the past week, and refusing to crush lower as the markets refuse any type of bounce except the short term oversold type which cools RSI and sets up for another leg lower

Spot Vix 3months, daily candles

Testing the 24-25 range which has been the top end from the past week; Push over there 28.79 from the 9/20 flush would be the next area

Breaking under 20 would be the first sign the broad market can find some footing.

https://www.briefing.com/stock-market-update




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