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Morning Market Rap 12/03/21 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures retraced about half of yesterdays bounce before finding their footing; Currently heading to test the upper end of yesterdays range 458.50 the corresponding futures high

454.37 the corresponding futures low

SPY 3 months, daily candles Held yesterdays lows by a whisper and bounced back thru, closed above the 50 day MA. Break thru the lows of yesterday and the 3 lower gaps become more probable to fill, along with a set up to test the 150 day MA/200 day MA lower.

Daily downtrend/weekly uptrend currently in play 453.10 the 50 day MA

450.29-450.31 the low(s) from the past 2 days and next support on this timeframe

447.55, 442.66, 436.05 lower gaps

439.23 the 150 day MA

429.25 the 200 day MA

426.36 major weekly support 459.07 the high from yesterday and first resistance

464.67 next

466.56 after that

Nasdaq futures with a similar look, retraced half of yesterdays bounce, now testing yesterdays upper range 390.77 the corresponding futures high so far, trading just under there currently ahead of the Nov. jobs report

387 the corresponding futures low

QQQ 3 months, daily candles Failed to hold Wed lows here early yesterday morning, but quickly saw an hourly OS bounce. Still above the 50 day MA with a daily downtrend underway/weekly uptrend intact. Bounced right off the weekly 12ema yesterday. 384.34 the low from yesterday and first support

380.56 the 50 day MA

372.39 next support after that 391.74 the high from yesterday and first resistance

400.48-401.19 resistance after that

Dec vix futures 3 months, daily candles Big moves here continue, and still hanging out near the recent highs. The intraday range and movement in the broad indices would need to settle down before this backs off more

Spot Vix 3 months, daily candles Backing off a bit more here after seeing a bigger surge than Dec vix futures and under yesterdays lows by a tad currently; Anything above 21.71-22.38 would be a daily "higher low" in this current uptrend



November Jobs report coming up 8:30 et



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