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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- SPX ETF - New Value Area for the month of Feb and it will be interesting to see if price can maintain above its new Value Area for the month, level to watch here is ~ $483.3. Note, that price lost its 5d MA (Moving Average) and is a sign that the short term trend is under jeopardy. I personally, like to see price above that short term MA for a strong short-term trend
1hr chart: Price dipping into the top of its Value Area for the week, watch 4919.75 support
QQQ - NDX 100 ETF - Daily chart: The QQQs are going to open up the new month inside its Feb Value Area - so a bit weaker here, something that is a different as we have seen QQQ lead the rally in '23 .. so could be a changing of the guard in terms of leadership - def something to watch this month. On the downside, I am also watching the 20d MA - if price gets there, I would be watching for a possible bounce.
1hr chart: Also note that price is weaker here too, with price breaking through its 1hr Value Area, level to watch here $421.09
IWM - Russell Small Cap ETF- The "tricky" IWM did not disappoint yesterday and just when they looked like they were turning the corner higher, the Small Caps fell apart yesterday. Now, I am watching the new Feb Value Area and whether price can maintain the bottom of its Feb Value Area, support level to watch ~ $192.5 and also its 50d MA
1hr chart: Price broke through its Value Area for the week & now retesting bottom of Value Area, watch $195.13
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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