TTG Index Charts & Out of the Box Stock Screen 6/14/23
Out of the Box MarketWebs Screen
Fed Fund Futures Update:
Ahead of today’s Fed Meeting, Fed Fund Futures are only implying a 10% chance of an interest rate hike today. Note, this has changed significantly from the w/e where the chance was 30%.
This is a great chart from Bespoke Investment Group on how the SPX price behaves on the last 6 Fed Days before and after announcement and Press Conference. Note, price is often whippy before it picks a direction and goes.
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.
US Dollar -0.2% / 30yr Bonds +0.2% / Crude +0.6% & Nat Gas +1.5% Copper +0.4% / Cryptos are slightly higher
$ES_F - S&P futures - Price continues to glide higher ahead of the Fed Meeting today (reminder, decision at 2pm, press conf at 2:30) , note the RSI is now into overbought territory at a 71.
QQQ - NDX - Daily & 1hr chart: Price also gliding higher here and into remains overbought with a RSI of 75
IWM- Russell Small Cap ETF- Daily & 1hr Chart: Price leading this morning +0.4% and now +2.4% over last 5d , upside VPOC $192.77 next resistance & now above its Value Area for week, support at $187.75
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
SHLS Weekly & Daily chart
Shoals Technologies Group, Inc. provides electrical balance of system for solar energy projects. The Company offers custom harness solutions, combiner boxes, junction boxes, PV wire, in-line fuses, racking, and string level monitoring solutions. Shoals Technologies Group serves customers worldwide.(Bloomberg)
-Using the TTG MarketWebs, watch for a break out of the ‘23 Value Area (1st chart) & a move > $26.20 VPOC on 2nd chart
Remember, this is just one type of screen / setup that I focus on in my analysis!
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