Morning Market Rap 12/16/21 by CTG
SPY / QQQ / Vix
SPY 5 days, hourly candles Hourly RSI heated as S&P futures hit new all time highs (4hr RSI has some room) 474.86 the corresponding futures high
470.16 the corresponding futures low
SPY 3 months, daily candles New daily higher low being set just above the 50 day MA; new confirmed daily uptrend shaping up based on the strong futures action which has pushed us thru all recent resistance 470.86 the high from yesterday - trading well above there currently for the gap up open set up
473.54 previous all time high, trading a tad above there currently as well 460.25-460.74 the lows from the last couple days and 460.25 set as the new daily "higher low"
458.39 the 50 day MA
QQQ 5 days, hourly candles Nasdaq with strong futures action as well as we start to poke thru the resistance areas from the end of last week/start of this week 401.24 the corresponding futures high
396.70 the after hours low before futures opened
QQQ 3 months, daily candles Bouncing off the 50 day MA area again and
testing recent resistance zones with bulls looking to break the daily downtrend / confirm a new uptrend 397.42 the high from yesterday, trading well above that currently so gap up open setting up here also
400.20-401.19 the area bulls need to punch thru to get the uptrend back in their favor on this timeframe
408.71 previous ATH after that 386 the 50 day MA
383.63-383.88 the lows/support area from the last 2 days, 383.63 set as the new daily "higher low"
Dec Vix futures 3 months, daily candles Massive giveback of the recent wiggle upward from the past few days after the Fed yesterday, and following thru down today
Spot Vix 3 months, daily candles Decisive move back below 20 yesterday, more follow thru down today