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Morning Market Rap 10/14/21 by CTG

SPY / QQQ / Vix SPY 5 days, hourly candles S&P futures seeing big follow thru over the previous 2 days of resistance. Hourly RSI starting to heat up into a test of Monday's highs. 438.47 the corresponding futures high so far (trading right there currently)

434.50 the after hours low before futures opened

SPY 3 months, daily candles Strong S&P futures action setting up a gap up open, as bulls have set the daily "higher low" and now look to the recent "lower high" of 441.68 for an attempt at breaking the daily downtrend. We'd be pretty heated into those levels on this pass, and there's room for a failure ahead of there and further tightening into next week. 436.05 the high from yesterday; Trading well above there now so a decent sized gap up open setting up

440.26 next resistance

441.68 the last daily "lower high" and spot bulls would need to push thru to regain the uptrend on this timeframe

442.52 the 50 day MA 431.54 the low from yesterday and first support, along with being the new daily "higher low". Bulls want to see that area hold once consolidation of this up move begins, as they search for the daily trend change attempt.

427.54, 426.36, 425.65 next support areas

QQQ 5 days, hourly candles Nasdaq futures with similar strong action and a test of the highs from Monday, as the hourly RSI heats up 363.13 the corresponding futures high

359.77 the after hours low before futures opened

QQQ 3 months, daily candles Daily "higher low" set here at Tuesdays low, heading up for an attempt at the last daily "lower high" and trend change attempt with a gap up open setting up 360.69 the high from yesterday - Trading well above there for the gap up

363.20 next resistance

365.69 the last "lower high" and the area bulls want to push thru for the trend change on this timeframe. We'd be short term heated into those levels if it happened on this pass (hourly, 4hr RSI etc), so failing somewhere short of there and tightening up some more into next week a decent possibility

369.42 the 50 day MA 357.43 the low from yesterday and first support

356.48 the last daily "higher low" and the area the bulls want to hold anywhere above once consolidation of this up move


353.15, 350.32 the most recent lows and next support area

Nov Vix futures 3months, daily candles Vol crush under recent lows as the broad market finds some footing

Spot Vix 3months, daily candles Breaking bearish here also, as the most recent daily "higher low" at 18.11 is being lost; Testing lows from 9/24 currently

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