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Morning Market Rap 12/27/21 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures trading in a tight range up near Thursday's highs 472.36 the corresponding futures high

470.45 the corresponding futures low

SPY 3 months, daily candles Daily equilibrium look/tightening range looking to test upper resistance/recent ATH's first thing to start the week. Will a Santa rally push us thru or will we reject resistance and tighten up further and start daily consolidation? 427.19 the high from Thursday and first resistance

472.87 next

473.54 previous ATH resistance

468.64 the low from Thursday and first support

467.81 open gap

461.75 the 50 day MA

455.40 small open gap

451.14 the most recent daily "higher low"

QQQ 5 days, hourly candles Similar look here as the Nasdaq futures also trade in a tight range up near the highs from Thurs 399 the corresponding futures high

396.77 the corresponding futures low

QQQ 3 months, daily candles Bulls looking to test/break the recent resistance areas when regular trading hours open with a third attempt. Bears looking to reject that area, start daily consolidation of the move from last week, and keep the daily downtrend in play. Even if daily consolidation does start, bulls have created enough space to look for a daily "higher low" anywhere above the 12/20 low of 377.47 398.43 the high from Thursday - trading above there by a tad currently so small gap up open setting up

400.20-401.19 the next resistance zone

408.71 the previous ATH and only resistance left after that 394.14 the low from Thursday and first support

389.47 the 50 day MA

380.20, 377.47 next support areas

January Vix futures 3 months, daily candles Testing recent lows

Spot Vix 3 months, daily candles Broke back below 20 on 12/22 as fear eased, hanging out in the 18 area currently. Intraday ranges on the indexes will become smaller the lower this goes.

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