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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.
ES_F - SPX Futures - Price ind. -0.4% ahead of this morning's CPI report and starting to dip below its short term 5d MA (Moving Average). Also, note price reached its 2nd extension away from the Feb Value Area, indicating price is a bit extended in the short term
1hr chart: New development here on the 1hr chart, price fell into this week's Value Area & that triggers the 80% bearish rule. Meaning if price cannot retake 5046.5 top of value, then there is a 80% chance price travels down to the bottom of this week's Value Area, 4968.5
QQQ - NDX 100 ETF - Daily chart: Price ind. -0.7% ahead of the CPI report and is slipping below its 5d MA and there are also a few negative earnings reports this morning in Tech i.e. TDC -15% CDNS -7% DDOG -7% ANET -7% LSCC -6% which is further adding to weakness.
1hr chart: Price is falling into its Value Area for week and could trigger the bearish 80% rule if this 1hr candle closes inside its Value Area, watch $433.49
IWM - Russell Small Cap ETF- Price ind -0.3% outperforming the indices to start the day. If this outperformance continues, that could make 4 in a row for the Small Caps leading.
1hr chart: Price now decently above both is Value Area for week and for month (Daily Chart), next upside level to watch us $204.02 VPOC where price could see a possible pause. However, if price can continue to rally, next upside VPOC is $207.3
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)
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