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Morning Market Rap 11/5/21 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures continuing further into new all time highs 468.26 the corresponding futures high

466.45 the corresponding futures low

SPY 3 months, daily candles More continuation upwards as RSI heats further into overbought territory; Clicking 75 now, which has been the previous top out area - besides Sept '20 where we saw it push 80 467 the high from yesterday - trading above there now so a gap up open setting up ahead of the Oct jobs report at 8:30et 464.99 the low from yesterday and first support

458.20-460.83 next support area

453.86 the last daily "higher low"; anything above there once daily consolidation does begin keeps bulls in control of the uptrend on this timeframe

450.71, 447.55 some open gaps

446.15 the 50 day MA

QQQ 5 days, hourly candles Nasdaq futures pushing further into new all time highs as well - print the QQQ 400 hats 400.37 the corresponding futures high

397.60 the corresponding futures low

QQQ 3 months, daily candles Acceleration of the uptrend here, as daily RSI pushes further into overbought territory with a 78 reading; 80ish is the highest it's seen anywhere in the past 3 years, before some type of daily consolidation started to cool it down 399.20 the new all time high yesterday from regular trading hours and only resistance 393.92 the low from yesterday and first support

393.61 small open gap right after that

384.42 next support

380.70 after that

373.24 the 50 day MA

372.39 the spot for bulls to stay anywhere above once daily consolidation begins to keep control of the uptrend

Nov Vix futures 3 months, daily candles Hanging out near recent lows as broad market bulls get overheated in the short term but have shown no signs of slowing yet. Daily inside bar today so far, after a potential reversal doji candle from yesterday.

Spot Vix 6 months, daily candles Some attempt to hold above that 15ish area; low 14s the next "support" spot after that, and the lowest vol readings we've seen post Covid

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






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