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Morning Market Rap 11/2/21 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures tested the lower end of yesterdays regular trading hour range overnight; Currently trading in the middle of that range 459 the corresponding futures low

460.36 the corresponding futures high

SPY 3 months, daily candles New all time highs again yesterday with a gap up open that filled after the open 460.70 the new ATH from yesterday and only resistance 458.20 the low from yesterday and first support

453.86 next support and spot for bulls to hold above to keep full control of the daily uptrend

451.05 after that

448.27 next with an open gap to

447.55

445.17 the rising 50 day MA

QQQ 5 days, hourly candles Nasdaq futures relatively stronger and trading in the middle/upper end of yesterdays regular hour trading range 386.44 the corresponding futures low

387.56 the corresponding futures high

QQQ 3 months, daily candles Gap up to new all time highs here yesterday as well, with the gap also getting filled right after the open. Daily RSI just starting to flash overbought. 387.56 the new all time high and only resistance 384.42 the low from yesterday and first support

379.31-380.70 next support area

372.39 after that and the spot for bulls to hold above to maintain the uptrend on this timeframe once consolidation begins

372.08 the rising 50 day MA

IWM 1 year, daily candles Small caps attempting to break out of a 7month long basing pattern, tested the previous all time high (234.53) from March yesterday on high volume (234.18 the high from yesterday); Futures action is printing new all time highs, with 234.73 the corresponding high

Nov Vix futures 3 months, daily candles On the verge of confirming the daily bear flag look as it tests it's recent lows

Spot Vix 3 months, daily candles Staying a tad more elevated here off a lower base; 2 days of inside bars are at the lower end of the previous range from the past couple days, and on the verge of breaking bearish

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




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