Morning Market Rap 10/08/21 by CTG
SPY / QQQ / Vix SPY 5 days, hourly candles S&P futures briefly broke yesterdays lows early this AM, back above now and mostly sideways from yesterdays close as we await the Sept jobs report 437.80 the corresponding futures low
439.80 the corresponding futures high
SPY 3 months, daily candles Bearish reversal candle yesterday just short of the overhead gap fill/50 day MA. Any break lower of yesterdays lows will have us looking to fill the lower gap created from the higher open yesterday. Daily downtrend in play with room created for bulls to attempt a higher low once this current bounce starts consolidation.438.20 the low from yesterday and first support
435.12 fills the gap created yesterday
427.54 next support
426.36 after that and bulls looking to form a daily "higher low" above there or worst case above the recent futures low from last Friday at
425.65 441.68 the high from yesterday and first resistance
441.90 overhead gap just missed filling
442.86 the 50 day MA
444.89 after that
QQQ 5 days, hourly candles Nasdaq futures with a similar break of yesterdays regular hours lows, followed by a move back up near the close from yesterday 361.84 the corresponding futures low
364.11 the corresponding futures high
QQQ 3 months, daily candles Daily oversold bounce continuation yesterday here as well, within a larger daily downtrend. Bearish reversal candle also, as we reversed from the highs and closed near the lows. Watching to see if yesterdays top was the daily "lower high" being set - if we break the regular hours lows and continue into the gap created from the higher open yesterday, it will be. 362.25 the low from yesterday and first support
359.95 fills the lower gap
350.32 after that, and bulls will look to set a daily "higher low" anywhere above there once consolidation of this current bounce begins 365.69 the high from yesterday and first resistance
369.93 the 50 day MA
373.76-374.04 the last daily "lower high" area
Oct Vix futures 3 months, daily candles Big vol crush day and break of the lows this contract had been seeing over the past week, as some fear was alleviated with a broad market bounce that lasted more than a day.
Hanging out near those lows currently as the market awaits the Sept jobs report.
Spot Vix 3 months, daily candles Back below 20 again, and now well off the 22-25 range we had been seeing earlier in the week/last week.
Also hanging out near yesterdays lows currently.
Anything above 17.63 on this consolidation is a daily "higher low".