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Morning Market Rap 12/23/21 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures trickling higher overnight as hourly RSI pushes into overbought territory; 4hr RSI has some room 469.32 the corresponding futures high so far

467.80 the corresponding futures low

SPY 3 months, daily candles Heading up into recent all time high double top resistance in the wide daily equilibrium range. Daily "lower high" on watch to see if we tighten up one more time, or if Santa blows us thru to new records 467.81 the high from yesterday - trading above there currently so gap up open setting up

472.87, 473.54 previous ATH next resistances 462.58 the low from yesterday and first support

461.04 the 50 day MA

456.31 next

455.40 open gap

451.14 the most recent daily "higher low"

QQQ 5 days, hourly candles Similar look here as Nasdaq futures push thru yesterdays highs and the hourly RSI pushes into overbought conditions 395.01 the corresponding futures high

393.68 the corresponding futures low

QQQ 3 months, daily candles Daily downtrend still in play as we head up to the most recent daily "lower high" resistance area and scout for an initial rejection as the hourly RSI is pushing overbought, and the 4hr RSI would be heated if we kept pushing to that level on this pass without any daily consolidation first 394.16 the high from yesterday - trading above there currently so gap up open setting up here also

398.48 the most recent daily "lower high" and spot for bulls to get over to break the downtrend

Follow thru over the 400.20-401.19 resistance area would make it more convincing and have us looking at the previous all time highs of 408.71 388.73 the 50 day MA

388.23 the low from yesterday and next support

380.20 next

377.47 after that

January Vix futures 3 months, daily candles Testing the recent lows

Spot Vix 3 months, daily candles Big push back below 20 again yesterday, now

testing mid Dec lows/recent lows in the low 18 area

IWM pushed over the most recent daily "lower high" area yesterday, seeing some follow thru this morning IWM 3 months, daily candles 219.90 that recent "lower high" from 12/16, getting over there breaks the downtrend on this timeframe; New uptrend will need to be established once daily consolidation begins


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




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