TTG Index Charts & Out of the Box Stock Screen 8/18/23
Out of the Box MarketWebs Screen
US Dollar -0.2% / 30yr Bonds -0.5%/ Crude +0.7% & Nat Gas -0.2% / Copper +1.3% / Cryptos are decently lower, BTC -2.4%
Internals & Indicators
Equity Put/Call Ratio
reading of 1.03 bit of a change there... highest level since 3/10, note the price action of the SPY following the last spike in March
$NYMO & $NAMO
We know that breadth has been horrible.. but now it is showing an oversold reading.
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: Price took out that lower VPOC in overnight trading and this is a logical place for a bounce along with other factors like the Equity Put / Call Ratio showing some fear and $NYMO and $NAMO showing oversold readings. So while a bounce may be on the horizon, I am mindful that the overall trend is now down in the intermediate term (below Value Area, 4488.75)
1hr chart: Price is below its Value Area for the week, resistance is now 4481.25
QQQ - NDX 100 ETF - Daily chart: Price took out that lower VPOC and similar to the S&P a bounce / reversal is something to watch for now that the lower VPOC has been removed / realized.
1hr chart: Price is below its Value Area for the week, resistance is $367.5
IWM- Russell Small Cap ETF- Daily Chart: Decisive move lower the last two days and a lower VPOC is down at $184.88
1hr chart: Price below its Value Area for the week
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
HD Weekly & Daily chart
The Home Depot, Inc. is a home improvement retailer. The Company offers wide range of building materials, home improvement, lawn, and garden products, as well as provides DYI ideas, installation, repair, and other services. Home Depot serves customers worldwide. (Bloomberg)
-suggested stop price $317 using the TTG MarketWebs
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