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Morning Market Rap 11/9/21 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures broke yesterdays regular trading hours lows overnight, held yesterdays futures lows 467.56 the corresponding futures low

469.28 the corresponding futures high

SPY 3 months, daily candles Higher lows for the last 8 days, as the RSI hangs out in overbought territory. 76.8 currently, and historically we've seen consolidation anywhere between here and 80ish. Doesn't mean things have to fall apart, just means we're due for some type of cooldown. 470.23 the high from yesterday and first resistance

470.65 the previous ATH right after 468.20 the low from yesterday and first support

460.83 next support area right around the 12ema

453.86 the most recent "higher low" and spot for bulls to hold anywhere above once daily consolidation does start, to keep control of the uptrend

450.71, 447.55 open gaps

446.97 the 50 day MA

QQQ 5 days, hourly candles Nasdaq futures similar trading to the S&P - broke yesterdays regular trading hours lows, held the futures lows from yesterday 397.01 the corresponding futures low

399.08 the corresponding futures high

QQQ 3 months, daily candles 6 days of a higher low than the previous day here, RSI also hanging out in overbought territory; Bulls have plenty of room to maintain the uptrend and find the next daily "higher low" once consolidation does begin 399.62 the high from yesterday and first resistance, previous ATH resistance of

400.99 right after 397.16-397.40 the low(s) from the previous 2 trading days and first support

393.61 small open gap

388.48 next support, right near that 12ema (white line)

380.70 next support area

374.20 the 50 day MA

372.39 the most important area for bulls to hold anywhere above once daily consolidation does begin, in order to maintain the daily uptrend which has gotten a bit stretched to the upside

Nov Vix futures 3 months, daily candles Seeing some "oversold" bounce here the last few days as downside protection got cheap again

Inside bar day so far today

Spot Vix 3 months, daily candles Some lift here off recent lows in the 15ish area, hitting its head on the last daily "lower high" so far around 18ish

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





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