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Morning Market Rap 11/12/21 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures trading sideways within yesterdays range 465.32 the corresponding futures high

464.00 the corresponding futures low

SPY 3months, daily candles Inside bar day yesterday, break it bearish and daily consolidation continues, break it bullish and the new daily "higher low" gets set and we look back up to recent all time highs 463.75 the low from yesterday and first support

462.04 the previous days low as it held right at the 12ema (white line)

Lose that support and daily consolidation/search for the next daily "higher low" continues

453.86 the next major support and the last daily "higher low"; Bulls need to hold anywhere above there to maintain the uptrend on this timeframe 465.29 the high from yesterday and first resistance

467.38 previous days high after that, break thru there w some follow thru and the new daily "higher low" gets set at Wednesdays lows

QQQ 5 days, hourly candles Nasdaq futures similar story, trading sideways in yesterdays range 392.31 the corresponding futures high

390.53 the after hours low before futures opened

QQQ 3 months, daily candles Inside bar day here also, break it bearish and daily consolidation/search for the next daily "higher low" continues; Break it bullish and the new "higher low" gets set at Wednesdays low 390.24 the low from yesterday and first support, held above the 12ema (white line)

387.53 Wed. low and next support

380.70 after that

374.90 the rising 50 day MA

372.39 the last daily "higher low" and spot for bulls to pivot anywhere above to maintain the uptrend on this timeframe 392.75 the high from yesterday and first resistance

395.36 after that, get thru there and the new daily higher low gets set at Wed low and we're talking about previous ATH resistance after that at

400.99

IWM 3 months, daily candles Saw some relative strength here yesterday, inside bar day as well, as it cools its heated daily RSI after the fresh 7month breakout to new all time highs to start November. Also bounced Wed above the 12ema and so far looks like healthy consolidation of the recent move237.66 first support

236.31 next

233.92 after that if consolidation continues and we need to cool down further 240.38 first resistance

241.56 after that

244.46 ATH resistance

Nov Vix futures 3months, daily candles

(this contract expires on Tues so next week I'll move onto the Dec contract, at that time the long vol etfs like VXX, UVXY etc will be primarily moved by that Dec contract, and each day after the Jan vix contract will creep into the calculation) Retraced the entire move from Wed here yesterday, hanging out near those lows currently, not showing much fear out there

Spot Vix 3 months, daily candles Retraced the entire Wed. spike here as well, testing the lows from the last few days now

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




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