SPY / QQQ / Vix
SPY 5 days, hourly candles Hourly OS conditions cooled off overnight with some bounce from S&P futures, setting up a potential bear flag look if that's all the bounce we see
450.42 the after hours low, before futures opened
454.61 the corresponding futures high
SPY 15 day, 4hr chart shows a similar bear flag look, as this never even quite pushed into oversold territory yesterday at close, and has room for more selling if the bulls cant play defense against yesterdays lows
SPY 3 months, daily candles Daily downtrend follow thru yesterday after the brief push over Tuesdays highs early AM was quickly taken back, on heavy sell volume. Breach of the 50 day MA w a close below as well. 450.71 first open gap was filled. 452.71 the 50 day MA now overhead
464.67 the high from yesterday and next candle resistance on this timeframe 450.29 the low from yesterday and first support
447.55 next open gap, with 438.58 and 436.05 also still open
438.96 the 150 day MA
428.92 the 200 day MA
SPY weekly candles Weekly consolidation continues, with a break of the 12ema as well (white line);
Any "higher low" found above 426.36 is a weekly higher low and would maintain the weekly uptrend
QQQ 5 days, hourly candles
Nasdaq futures testing yesterdays lows currently; oversold hourly RSI saw a cooldown with a bounce overnight, and now is selling back into hourly OS conditions
QQQ 15 days, 4hr candles
Also showing a bear flag look here if the bulls cant show up and play defense at yesterdays lows; 4hr RSI has room for selling if the bear flag starts to play thru
QQQ 3 months, daily candles Daily downtrend confirmed here yesterday as well, on heavy volume, one day after the S&P's confirmed downtrend. Also showing a head and shoulders look 386.64 the low from yesterday
385.93 the after hours low
Both breaking here currently in pre mkt as that bear flag follows thru, setting up for a gap down open 380.70 next candle support
380.15 the 50 day MA
372.39 support after that
400.48 the high from yesterday and first resistance on this timeframe
IWM daily candles going back to the Covid lows - Daily RSI is almost as oversold as it was then - currently 23ish
Hit 18ish on 3/12/20 204-208 area for next support, and we'd see the RSI around those Covid low levels if we continue there on this current flush sequence
Dec Vix futures 3 months, daily candles Massive moves in the Vol complex with historically wide ranges
Pushed over the highs from the day after Thanksgiving yesterday; Backed off some overnight as broad market futures got their short term OS bounce going, but currently not too far off the highs
Spot Vix 1 year, daily candles
32.61 the high from yesterday, highest spot reading we've seen since late January/early February
Massive moves and ranges both directions should be expected until this settles down
Lots moar Fed chatter today
