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Morning Market Rap 12/14/21 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures broke yesterdays lows early AM into oversold hourly RSI territory; Seeing a bounce now that's cooling off that condition. 4hr has room for more selling if bears maintain short term control. 464.75 the corresponding futures low

468.10 the corresponding futures high


SPY 3 months, daily candles Sell volume picked up yesterday as bulls search for a daily "higher low" and head for a test of the 12ema (white line) 466.27 the low from yesterday - trading under there currently so a small gap down open setting up

464.35-464.62 (daily 12ema) next support area before the open gap down to

460.79

456.95 the 50 day MA

448.92 the recent lows and spot bulls are looking to hold anywhere above 470.56-470.90 the high(s) from the last couple days and first resistance

473.54 previous ATH after that

QQQ 5 days, hourly candles Nasdaq futures also broke yesterdays RTH lows into hourly oversold conditions, and has seen some bounce attempt to cool off those conditions as well 389.19 the corresponding futures low

393.26 the corresponding futures high

QQQ 3 months, daily candles Broke the lows from the last few days along with the 12ema, as it pushes into the gap area 391.88 the low from yesterday - trading under there currently so gap down open shaping up here also

387.60 fills the gap

384.50 the 50 day MA

378.90-379.30 the recent lows area and spot bulls are looking to set a daily "higher low" anywhere above 398.33 the high from yesterday and first resistance

400.20-401.19 next resistance area

Dec Vix futures 3 months, daily candles Some slight extension over yesterdays highs as it looks to bounce off recent lows on this broad market consolidation. Still pretty muted action so far.

Spot Vix 3 months, daily candles A push back over the 20 area again yesterday as ranges expanded in the broad market

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





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