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Morning Market Rap 11/11/21 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures continued the oversold hourly RSI bounce, recovering over half of yesterday's regular trading hours decline so far 463.37 the corresponding futures low

465.66 the corresponding futures high so far

SPY 3 months, daily candles Daily consolidation continued yesterday, straight into a test, and bounce, right at the 12ema (white line)

Volume was slightly elevated on the sell off, but much of that also was end of day buying 462.04 the low from yesterday and first support

453.86 the next major support level if the 12ema area/yesterdays low can't hold; anywhere above that level would still look like a healthy cooldown of recent overbought RSI conditions

450.71, 447.55 open gaps

447.52 the 50 day MA 467.38 the high of yesterday and first resistance

470.65 previous all time high resistance the only thing left after that

QQQ 5 days, hourly candles Nasdaq futures are also seeing the oversold hourly RSI bounce get past the halfway point of yesterdays regular day declines 389.05 the after hours low, before futures opened

392.35 the corresponding futures high of the bounce so far

QQQ 3 months, daily candles Daily consolidation and overbought RSI cooldown continued here as well, with a deeper push down thru the 12ema (white line) but some recovery and a close back above into the end of the regular session.

Volume was a bit more elevated here than on the S&P, but like the S&P a chunk of that volume was also end of day buying 387.53 the low from yesterday and first support

380.70 next support area

374.70 the 50 day MA

372.39 the most recent daily "higher low" and spot for bulls to hold anywhere above to keep full control of the uptrend on this timeframe 395.36 the high from yesterday and first resistance

400.99 the previous all time high resistance after that

XLV was one of the few green sectors yesterday, indicating it wasn't a completely risk off day even though it felt like that mid-day 3 months, daily candles below

Nov Vix futures 3 months, daily candles Some more upside continuation off the recent bottom and thru some recent resistance yesterday; giving most of that back so far today

Spot Vix 3 months, daily candles Also saw a nice push to the upside here, and made a higher daily high over the 18ish area, breaking the recent downtrend look

Stopped just short of the 20 psyche level and an inside bar day so far today

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





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