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Morning Market Rap 10/21/21 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures drifting a bit lower, still above the lows from yesterday's regular trading hours 450.75 the corresponding futures low

452.58 the after hours high from yesterday before futures opened

SPY 3 months, daily candles Another small gap left open yesterday as this recent bull surge tested within a whisper of all time highs 452.73 the high from yesterday and first resistance

454.05 previous all time high only resistance after that 451.01 the low from yesterday and first support

450.71 small open gap

448.27 next

447.55 next open gap

443.27 next candle support with

443.14 the 50 day MA

442.66 next support before the last open gap at 436.05

431.54 the most important area for bulls to hold anywhere above once daily consolidation begins

QQQ 5 days, hourly candles Nasdaq futures tested/broke yesterdays lows overnight with no initial follow thru; Back below those lows again though currently, testing the futures low 373.15 the corresponding futures low

375.10 the after hours high from yesterday before futures opened

QQQ 3 months, daily candles Cooling off a bit yesterday and threatening some daily consolidation of this big bull move, as it tested into the last resistance area before previous all time highs 373.46 the low from yesterday, starting to trade under that level as daily consolidation shapes up

372.70 the low from Tues after that

369.78 the 50 day MA

366.82-366.99 next support area

363.01 after that

360.69 open gap

356.48 the spot for bulls to stay anywhere above once that daily consolidation begins, to maintain the uptrend 376.57 the high from yesterday and first resistance

378.90-379.43 next resistance area

382.78 previous all time high after that

Nov Vix futures 3 months, daily candles Inside bar day so far within yesterdays range, but testing the upper end currently as it looks for some bounce after the recent significant vol crush

Spot Vix 3 months, daily candles A tad perkier here as we trade over yesterdays highs; A daily "lower high" to form anywhere below that 20-21 area the most likely scenario if we start to see any bounce

XLF hit new all time highs yesterday; XLE strong and breaking out over recent resistance and 1 year highs - both contributing to this recent SPY strength and all time high push; XLV finally catching up some also, it had been the laggard on this recent broad market up move













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