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Morning Market Rap 10/13/21 by CTG

SPY / QQQ / Vix S&P futures held the lows from the previous futures session, then bounced into the upper end of yesterdays regular trading hours range 432 the low from after hours before futures opened

4434.99 the corresponding futures high

SPY 3 months, daily candles Daily consolidation of this bounce attempt off the lows continues, as bulls hope for a daily "higher low" to form above the recent lows 432.78 the low from yesterday and first support

427.54 next support

426.02 the rising 150 day MA

425.65-426.36 the recent lows, and most important area for bulls to defend before seeing continuation of the daily downtrend

415.08 the 200 day MA 436.10 the high from yesterday and first resistance

440.26 next

441.68 the most recent daily "lower high" after that, and the spot the bulls would need to push above to flip the daily trend in their favor - if they can hold the recent lows first

442.64 the 50 day MA

QQQ 5 days, hourly candles Nasdaq futures saw a slight break of yesterdays futures lows, with no follow thru and a quick reversal back into the upper end of yesterdays range 355.59 the lowest level seen after regular hours before futures opened, never saw lower than there in futures action

359.45 the corresponding futures high

QQQ 3 months, daily candles Consolidation of the most recent bounce attempt continued here as well, daily downtrend in play as bulls look to try and hold above recent lows and prevent continuation lower 356.48 the low from yesterday and first support

353.15 next

350.32 the most recent low and spot bulls want to defend

349.12 the 150 day MA which has risen to meet near that recent low (orange line)

341.90 the 200 day MA as next area to watch if we cant hold recent lows (purple line) 360.33 the high from yesterday and first resistance

363.20 next

365.69 the last daily "lower high"

369.55 the 50 day MA

November Vix futures 3 months, daily candles

(moving onto this contract as Oct expires Tues and this contract will be the primary mover for any Vix exchange traded products) Testing recent lows as the broad market tries to find a daily higher low; This contract would break down and follow Spot Vix lower if the broad market can start to find it's footing/or if the intraday moves/range narrows

Spot Vix 3 months, daily candles18.11 the most recent daily "higher low set here in this tightening look; Inside bar day so far and if it breaks bearish today the daily "lower high" gets set at 20.81, the high from yesterday.

Break it bullish and we'll look for a daily "lower high" anywhere under 24.89

A couple days of action below 20 and we can expect the wide intraday volatility to ease off a bit

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