TTG Index Charts & Out of the Box Stock Screen 01/31/24 $NUE $PG
Out of the Box MarketWebs Screen
US Dollar +0.1% / 30yr Bonds +0.1% / Crude -1.5% & Nat Gas +2.0% / Gold +0.2% / Copper -0.1% / BTC -2.4%
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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- S&P Futures - Small dip this morning, -0.4% but remains above its Jan Value Area & at its 5d short-term MA (Moving Average).
Note, today is FOMC —> announcement at 2pm and press conference at 2:30. Today, will be more about whether the Fed will hint at a rate cut for the Mar 20th meeting. Right now Fed Fund Futures are indicating a ~ 46% chance of a 25bps cut for the Mar meeting.
1hr chart: Price dipping into the top of its Value Area for the week, watch 4919.75 support
QQQ - NDX 100 ETF - Daily chart: Price ind. -0.9% om the back of earnings reports (MSFT -0.3% GOOGL -5% AMD -4.4%) and this should move price below its 5d MA and it will be interesting to see whether price will open up inside (or above) the new Feb Value Area which should tell us about trend, i.e. if price opens up inside Value QQQs may be more in a range than trending +
1hr chart: Price ind. -0.9% and testing the bottom of its Value Area, watch $421.09
IWM - Russell Small Cap ETF- Price ind. +0.3% outperforming this morning. I am watching the top of the Jan Value Area, resistance $200.79 and also whether price will open up above its new Feb Value Area.
Note Small Caps can really move on Fed day. For example, the last Fed day on 12/13, IWM gained +3.4%
1hr chart: Price remains above its Value Area for the week, top of Value support $196.59
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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