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Morning Market Rap 12/29/21 by CTG

SPY / QQQ / Vix

SPY 5 days, hourly candles S&P futures traded sideways in the lower half of yesterdays small range 476.60 the corresponding futures low

477.96 the corresponding futures high

SPY 3 months, daily candles New all time highs again yesterday, followed by a cooling of the overbought RSI conditions on the shorter term timeframes like the 4hr, hourly 478.81 the new ATH and only resistance 476.06 the low from yesterday and first support; Break that and daily consolidation gets underway

472.01 next support

468.35 the daily 12ema

467.81 small open gap

463.06 the 50 day MA

QQQ 5 days, hourly candles Nasdaq futures also trading sideways in the lower end of yesterdays range 401.61 the after hours low before futures opened

403.31 the corresponding futures high

QQQ 3 months, daily candles Daily downtrend broken here, new pivot / "higher low" will need to be established once daily consolidation gets underway 404.58 the high from yesterday and first resistance

408.71 previous ATH after that 400.71 the low from yesterday and first support, break that level and daily consolidation of this recent up move begins

398.22 next support

394.51 the daily 12ema

390.86 the 50 day MA

377.47 the spot for bulls to find that "higher low" anywhere above

January Vix futures 3months, daily candles Continues to bleed out into the end of the year

Spot Vix 3 months, daily candles Trying to hold up near the lows from the past few days, daily bear flag look currently

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




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