TTG Index Charts & Out of the Box Stock Screen 7/28/23
Out of the Box MarketWebs Screen
US Dollar -0.3% / 30yr Bonds +0.4% / Crude -0.1% & Nat Gas +1.1% / Copper +0.6% / Cryptos are slightly higher BTC +0.3%
Today’s Economics / Events
Index Updates
At TTG, I use Volume At Price in my chart analysis and I use the MarketWebs Indicator to provide Value Areas which indicate significant support & resistance levels. Learn More Here about Volume At Price and the MarketWebs.
$ES_F - S&P futures - Daily chart: Reversal day yesterday, but... price did not break the uptrend and is still above its 5d and 20d MA (Moving Averages)
1hr chart: Only one more day for this week's Value Area, but it is providing some good info as price held the bottom of the Value Area for the week, 4572 support during yesterday's volatility.
QQQ - NDX 100 ETF - Daily chart: Ugly price action yday, but similar to the SPX.. 1d does not make a trend and there was no damage technically.
1hr chart: Price testes and held bottom of its Value Area for the week, support to watch $377
IWM- Russell Small Cap ETF- Daily & 1hr Chart: Ugly bearish engulfing candle and I am watching the bottom of 1hr Value Area, support which did hold at $194.3. Also, note that an upside VPOC was taken out and price was rejected.
IWM - Russell Small Cap ETF- Weekly Chart: watch top of value resistance $195.87
Here is today’s TTG Proprietary Stock Screen “Out of the Box” using Volume At Price
Remember, I am only showing a few setups from the list here and review more in the TTG Trading Room. I provide a more detailed watchlist every weekend to start the week at TTG.
Charts
ZB_F 30yr Bonds Weekly & Daily chart
Considering the big move in Bonds yesterday (lower prices, higher yields) I thought it made sense to provide the charts in the 30yr Bond futures.
Observations:
The trend is down and price remains below its July Value Area
Price did get rejected at the bottom of its July Value Area (this was a retest) on 7/20.
Price is currently above the low from 7/10 and I think this is important that it holds.
If the 7/10 level does not hold, the next support level would be down at this year’s bottom of value 119’28
Remember, bonds & yields are important to equities (imo) because higher yields can make equities more expensive from a valuation perspective.
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