TTG Index Charts & Out of the Box Stock Screen 11/13/23 $AOS $JBL
Out of the Box MarketWebs Screen
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At TTG, I use Volume At Price in my chart analysis and I use the MarketWebs Indicator to provide Value Areas & VPOCs which indicate significant support & resistance levels. Learn More Here about Volume At Price and the MarketWebs.
SPY - S&P ETF - Daily chart: After Friday's Rally, SPY +1.6%, price is back above its Nov Value Area and this is the first time price has been above its monthly Value Area since Jul (the last 3months price has failed to get above its Value Area), which is a positive development. Support to watch $435.67 & upside VPOC $444.96 (red line) is next upside level to watch
1hr chart: Price starts the week above its new Value Area for the week, support to watch $437.9 & upside VPOC $443.64 (red line)
QQQ - NDX 100 ETF - Daily chart: Upside VPOC (red line) taken out and a fade. The question is can price hold that top of Nov Value Area? The level to watch $369.89. Decision is if price can hold that level, I want to be long QQQ , and if not more of a neutral stance.
1hr chart: Price rallied above that 1hr VPOC which capped Thursday's price. This is a positive development. Price starts the the week above its new Value Area for the week, support to watch $374.26
IWM- Russell Small Cap ETF- Daily Chart: Price is currently inside its Nov Value Area, support to watch here is $167.74
1hr chart: Again, a very different picture for IWM than SPY and QQQ as price starts the week just inside its Value Area for the week (vs above for SPY QQQ). This week we have CPI (Tues) and PPI (Wed) reports and my opinion is that a lower than expected inflation report could get IWM to perhaps outperform. Regardless there is nearby support to watch $168.32 and if price can stay above that level the #bullish 80% rule is in effect for the week.
Here is today’s TTG Proprietary Stock Screen “Out of the Box” using Volume At Price
names trending above their Value Areas (on 3 multiple timeframes & not super extended)
Charts
AOS Weekly & Daily chart
A.O. Smith is one of the world's leading manufacturers of residential and commercial water heating equipment and boilers, as well as a manufacturer of water treatment products. Its products include home gas, heat pump and electric water heaters, boilers, tanks, and water treatment systems. The company's Lochinvar brand is one of the leading residential and commercial boiler brands in the US. Some of A.O. Smith's most prominent brands include Aquasana, Atlantic Filter, Hague, Water-Right, and Master Water. A.O. Smith sells its products in North America as well as China, Europe, and India. The company sells its products through a network of more than 1,000 wholesale distributors, as well as large hardware and home center retail chains, such as Lowe's. It generates the majority of its revenue in the US. (Bloomberg)
- using the TTG MarketWebs & upside price target $70 VPOC (red line).
One Setup from the TTG Weekend Watchlist:
JBL Daily chart
Jabil Inc. operates as a manufacturing services company. The Company offers digital prototyping, printed electronics, device integration, circuit designing, and volume board assembly services. Jabil serves automotive, consumer health, data centers, energy, and defense and aerospace sectors worldwide.
Price is inside is Nov Value Area, looking for this to resolve higher and up to $138.01 top of Nov Value Area
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