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Morning Market Rap 10/19/21 by CTG

SPY / QQQ / Vix SPY 5 days, hourly candles Bullish action continued in S&P futures action, setting up for a gap up open into heated hourly, 4hr RSI conditions 449.95 the corresponding futures high so far

446.79 the corresponding futures low

SPY 3 months, daily candles Daily uptrend continuation after an early push to fill the first lower gap. Stayed above the 50 day MA and setting up for another gap up open based on strong futures action. 447.55 the high from yesterday - trading well above there currently so gap up open shaping up

451.49-452.57 next resistance area before a test of the all time highs at

454.05 443.27 the low from yesterday and first support

442.77 the 50 day MA

442.66 gap still open

438.58 next before the next open gap at 436.05

431.54 the spot for bulls to stay anywhere above once daily consolidation begins

QQQ 5 days, hourly candles Nasdaq seeing similar strong futures action and upside continuation 374.58 the corresponding futures high

372.31 the corresponding futures low

QQQ 3 months, daily candles Daily uptrend continuation yesterday with a strong close back above the 50 day MA 372.87 the high from yesterday - trading above there now so gap up open setting up here also

374.04 next resistance, trading above there currently as well

378.90 after that then the previous ATH at 382.78 369.48 the 50 day MA

366.82-366.99 the low(s) from the past 2 trading days and first support on this timeframe

363.01 after that

360.69 open gap

356.48 as the most important area for bulls to stay anywhere above once daily consolidation begins so they can maintain the daily uptrend

Nov Vix futures 3 months, daily candles Testing recent lows here, after a short term "oversold" bounce to start the week; Giving the bear flag look

Spot Vix 3 months, daily candles Similar look here with yesterday seeing some bounce, after coming too far too fast on the big vol crush to end last week; Daily bear flag look playing thru here would take us to a test of the low 15s, then the post-Covid lows of 14s would be in sight from there.

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





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