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Market Rap 02/13/23 by CTG

SPY / QQQ / Vix SPY 5 days, hourly candles S&P futures thru the highs from Friday and tracking for the gap up open 409.54 the pre mkt high

405.98 the corresponding futures low

SPY 3 months, daily candles Lost the uptrend here Thursday, but follow thru on Friday was reversed some by close with a push/close back above the daily 12ema(white). Gap up open setting up for today ahead of the next CPI report tomorrow. (support)

405.01 the low from Friday

402.35

400.03-400.28 (resistance)

408.44 the high from Friday, trading a tad above there currently for the gap up open set up

414.57

416.49

418.31

QQQ 5 days, hourly candles Nasdaq futures currently testing Fridays highs 301.89 the pre mkt high

297.94 the corresponding futures low

QQQ 3 months, daily candles Lost the uptrend here Thursday as well, followed by an indecision doji candle Friday right at the 12ema(white). An open, and most importantly a close above 299.70 would confirm that doji as a reversal. (support)

299.58 that daily 12ema

297.25 the low from Friday

292.30

290.83 the 200 day MA(purple)

289.89 (resistance)

301.57 the high from Friday, looking to get tested first thing

308.99-309.50

311.03

312.39-313.68

March Vix futures 3 months, daily candles (Feb expires tomorrow) Fridays upward follow thru on this recent "oversold" bounce reversed more than half by close; Testing the lows from Friday currently. Break those lows and daily consolidation of this recent move gets underway, looking for a "higher low" anywhere above 20.15

Spot Vix 3 months, daily candles Fridays move back thru 20 got overheated in the short term and fell victim to some end of week vol crush, as it deflated back towards 20. Starting the week back in the upper end of Fridays range - we've been seeing a lift to start the week the past few weeks, after givebacks on Friday.

$DXY 3 months, daily candles Hanging out right at it's 50 day MA(blue) and debating on a further push higher as it wrestles with that level

https://www.briefing.com/stock-market-update [BRIEFING.COM] S&P futures vs fair value: +12.00. Nasdaq futures vs fair value: +74.00.The S&P 500 futures are up 12 points and are trading 0.3% above fair value. The Nasdaq 100 futures are up 75 points and are trading 0.6% above fair value. The Dow Jones Industrial Average futures are up 52 points and are trading 0.2% above fair value. Equity futures indicate a higher open with the Nasdaq 100 futures outperforming thanks to upside leadership from the mega cap space. Moves are otherwise modest in scope as investors await key data releases next week, including the Consumer Price Index, Retail Sales, Industrial Production, Housing Starts, and Producer Price Index reports all from January. The EU Commission's winter forecast called for 0.9% growth in the eurozone, versus 0.6% in the autumn forecast, while the outlook for 2024 remains unchanged at 1.5%. Geopolitical angst is also in play this morning after the U.S. shot down three flying objects over Alaska, Canada, and Michigan over the last three days. This follows the Chinese spy balloon that was shot down last week. The 2-yr Treasury note yield is up four basis points to 4.55% and the 10-yr note yield is unchanged at 3.74%. The U.S. Dollar Index is down 0.1% to 103.52. Energy complex futures are trading mixed. WTI crude oil futures are down 0.1% to $79.68/bbl and natural gas futures are up 0.7% to $2.53/mmbtu. There is no U.S. economic data of note today. In corporate news:

  • Zillow (ZG 44.44, +2.22, +5.3%): upgrade from In Line to Outperform at Evercore ISI

  • Check Point Software (CHKP 133.00, +5.84, +4.6%): beats by $0.09, reports revs in-line; announces $2.0 bln expansion of share repurchase program

  • TreeHouse Foods (THS 40.96, -7.37, -15.3%): misses by $0.01, misses on revs; guides FY23 revs below consensus

  • Fidelity Nat'l Info (FIS 70.00, -5.43, -7.2%): beats by $0.01, reports revs in-line; guides Q1 EPS below consensus, revs below consensus; guides FY23 EPS below consensus, revs below consensus; confirms merchant business spin off

  • Monday.com (MNDY 145.50, +14.32, +10.9%): beats by $0.80, beats on revs; guides Q1 revs above consensus; guides FY23 revs above consensus

  • Teradata (TDC 35.80, +1.53, +4.5%): beats by $0.05, beats on revs; guides Q1 EPS above consensus; guides FY23 EPS above consensus, revs above consensus


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