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Morning Market Rap 11/30/21 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures broke the RTH lows from yesterday overnight; Holding above Friday's lows still 458.20 the corresponding futures low

466.38 the corresponding futures high

SPY 3 months, daily candles The overhead gap filled yesterday as we pierced back above the 12ema (white line) but failed to close back above, and saw some indecision end of day/ended up with a doji candle 461.73 the low from yesterday - trading below there currently so a gap down open is shaping up

457.77 the low from Friday and next support - break that level with some follow thru and an inability to quickly get back above and we'd confirm a daily downtrend

451.94 the 50 day MA the spot to watch after that

450.71, 447.55, 442.66, 436.05 open gaps after that 466.56 the high from yesterday and first resistance

469.57 and 473.54 previous ATH after that

QQQ 5 days, hourly candles Nasdaq futures maintaining their relative strength in futures action as they only tested about halfway into yesterdays RTH levels 400.80 the corresponding futures high

396 the corresponding futures low

QQQ 3 months, daily candles So far this has maintained it's daily uptrend; Yesterday saw a push back above the 12ema (white line) and a close back above 395.14 the low from yesterday and first support

389.77 the new daily "higher low" and spot for bulls to hold above to maintain that daily uptrend

387.53 next

Then 380.70 and the 50 day MA at

379.17 400.73 the high from yesterday and first resistance

408.71 previous ATH after that

IWM 5 days, hourly candles Small caps seeing the most damage on the new Corona virus Omicron variant fears; Lost the lows from last Friday and on the weak end of the broad market index spectrum

Dec vix futures 3 months, daily candles Massive ranges and movement here since the Omicron fears emerged; Yesterday saw a retracement of over half of the big spike, but today it's getting a chunk of that back on broad market futures weakness

Spot Vix 3 months, daily candles Yesterday saw a big vol crush here as well and almost filled the gap that was created from last Wed to Friday, but today it's now back over yesterdays highs after making a push to test Friday's highs earlier. Expect wide ranges and movement in everything, both directions.

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