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Morning Market Rap 10/22/21 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures pushing thru to new all time highs 454.31 the corresponding high so far, trading right around there currently

452.29 the corresponding futures low

SPY 3 months, daily candles Another day where S&P bulls avoided any kind of daily consolidation and continued upward. Thru previous highs in pre mkt and new blue sky territory engaged 453.83 the high of yesterday 454.05 the previous all time high - thru both those levels here in pre mkt action 451.01-451.31 the low(s) from the past 2 days and first support

450.71 small open gap

448.27 next support before the next gap at


443.33 the 50 day MA

443.27 next before the next gap at


438.58 next, then the last open gap at


431.54 the last daily "higher low" pivot area and spot for bulls to stay anywhere above once daily consolidation does begin

QQQ 5 days, hourly candles Heading up for a test of yesterdays highs in futures action 374.68 the after hours low before futures opened

376.87 the corresponding futures high so far, trading right around there currently

QQQ 3 months, daily candles Bulls refusing any daily consolidation here as well so far, 7 days with a higher low on this timeframe and counting. Once that pattern breaks, consolidation gets underway; the bulls have made a lot of room to defend the uptrend now 377.47 the high from yesterday and first resistance

378.90-379.43 next resistance area

382.78 the previous ATH after that 373.85 the low from yesterday and first support

372.70-373.46 the low(s) from Tues/Wed next support area

370.00 the 50 day MA

366.82 next support

Then 363.01

360.69 the one open gap left on this run

356.48 the last daily "higher low" and bulls have room to defend the uptrend anywhere above this level once daily consolidation gets going

Nov vix futures 3 months, daily candles Hanging out near the lows from yesterday, no relief in sight for bulls here besides the fact things are getting extended to the downside in the very short term, and due for some reversion to the mean at any time

Spot Vix 6 months, daily candles Zooming out to a longer timeframe here, as we're starting to lose the recent 15.19 lows from Aug; low 14s the next area and levels last seen in late June/early July.

Protection has gotten cheap(er) again.

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