TTG Index Charts & Out of the Box Stock Screen 8/25/23
Out of the Box MarketWebs Screen
US Dollar +0.1% / 30yr Bonds -0.1%/ Crude +1.3% & Nat Gas +0.1% / Copper +0.5% / Cryptos are slightly higher BTC +0.3%
Fed Fund Futures Pricing ahead of Jackson Hole speeches
I thought it would makes sense to take a look at what the market is pricing in prior to the Jackson Hole event. Currently, there is a 21% chance of a 25bps interest rate hike for the Sept FOMC.
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.
$ES_F - S&P futures - Daily chart: Price was rejected at the bottom of the Aug Value Area (4488.75), and reversed lower yesterday. This morning price is trying to stabilize ahead of Fed Chair Powell's speech at 10:05est. There is also a speech by ECB’s Lagarde at 3pm est. today. Note, price is back below all the short term MAs (Moving Averages) and is in a position of weakness.
1hr chart: After completing the bullish 80% rule yesterday, price reversed down to the bottom of this week's Value Area, watch 4392 and if that does not hold, watch 4333.75 lower VPOC for next area of support.
QQQ - NDX 100 ETF - Daily chart: That is one interesting reversal day yesterday... price got rejected at its 50d MA and bottom of Aug Value Area. Price is below all its short term MAs
1hr chart: Major rejection right at the upper VPOC (red line) and now is back down to the bottom of this week's Value Area, watch $360.62 support
IWM- Russell Small Cap ETF- Daily Chart: Price right back down to its 200d MA and remains the support to watch after whippy price action all week.
1hr chart: Similar to the $ES_F & QQQ, price is down to the bottom of this week's Value, watch $184.36
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
RYAN Weekly & Daily chart
Ryan Specialty Holdings, Inc. operates as a holding company. The Company, through its subsidiaries, provides specialty insurance solutions for brokers, agents, and insurance carriers. Ryan Specialty Holdings serves customers worldwide.(Bloomberg)
-suggested stop price $44.5 using the TTG MarketWebs
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