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Morning Market Rap 11/22/21 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures bounced to the top end of Fridays intraday range 469ish was the corresponding futures low

471.16 the corresponding futures high

SPY 3 months, daily candles New all time highs during regular trading hours Friday, staying strong above the 12ema (white line) 470.94 the new ATH and only resistance

(472 was hit in futures action 11/19) 468.50 the low from Friday and first support

466.34 next

462.04 the last daily "higher low" and spot for bulls to hold above to keep the uptrend on this timeframe

453-456ish next support area

450.71, 447.55 open gaps

449.91 the 50 day MA

QQQ 5 days, hourly candles Nasdaq maintaining the relative strength we saw end of last week, finding new all time highs in futures action 405.82 the corresponding futures high

404.20ish the corresponding futures low

QQQ 3 months, daily candles More all time highs Friday and potential gap up open setting up this morning, as the strength of mega cap tech continues. Daily RSI starting to heat up again. 405.30 the new ATH set Friday, trading a tad above there currently for the gap up open set up 402.58 the low from Friday and first support

402.27 open gap

395.78 the 12ema (white line)

387.53 the most recent daily "higher low" and spot for bulls to hold anywhere above once daily consolidation begins, in order to maintain the uptrend

380.70 next

377.08 the 50 day MA

Dec Vix futures 3 months, daily candles Saw some continuation of last weeks bounce here on Friday, giving over half of that back so far today

Spot Vix 3 months, daily candles Trading in the middle of Friday's range after some perkiness in the back half of last week. Anything under 20ish on this bounce is a daily "lower high".

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




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