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Morning Market Rap 11/23/21 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures saw downside follow thru under yesterdays regular trading hours lows, trying a bounce now that started just ahead of hourly oversold RSI conditions 465.35 the corresponding futures low

468.36 the corresponding futures high

SPY 3 months, daily candles Strong opening drive to new all time highs, followed by a high volume sell off into the end of the day and daily consolidation. So far we're staying above the 12ema which has held since mid October 467.35 the low from yesterday and first support, trading a bit under there currently so a gap down open shaping up

466.55 is the daily 12ema

462.04 is the previous daily "higher low"; hold anywhere above there and bulls keep control of the uptrend on this timeframe

453-456 next support area

450.71, 447.55 open gaps

450.33 the 50 day MA 473.54 the high from yesterday and new all time high the only daily resistance

QQQ 5 days, hourly candles Nasdaq futures also broke their RTH lows in futures action, so far a weak bounce after clicking hourly oversold RSI conditions 396.84 the corresponding futures low

400.15 the corresponding futures high

QQQ 3 months, daily candles New all time high straight into a high volume pullback bearish engulf candle here also; Still above daily 12ema 399.19 the low from yesterday and first support, trading under there now so gap down open setting up

396.32 the daily 12ema

387.53 the previous daily "higher low" and spot for bulls to hold anywhere above on this pullback to keep the uptrend

380.70 after that

377.54 the 50 day MA 408.71 the high from yesterday and new all time high resistance

Dec Vix futures 3 months, daily candles Testing the highs from 11/10 after continuing the daily "higher highs" look we've now seen 5 days in a row

Spot Vix 3 months, daily candles Pushed over the psychological 20 level earlier, getting a little daily uptrend confirmation; pulling off the highest levels currently and back under 20, so we'll see if this gets any more follow thru upward/along w the broad market seeing deeper consolidation down

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