TTG Index Charts & Out of the Box Stock Screen 9/20/23 $CHKP
Out of the Box MarketWebs Screen
US Dollar -0.1% / 30yr Bonds +0.2% / Crude -0.9% & Nat Gas -3.5% / Copper +0.6% / Cryptos are lower BTC -0.4%
S&P options are implying a 65 bps move for today
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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: Yesterday, price tested the bottom of the Sept Value Area & bounced. I am continuing to watch bottom of Value Area 4467.75.
Today, we have the FOMC and while there is little chance of a interest rate hike today (see Fed Fund Futures pricing below), the press conference at 2:30 pm may be more enlightening about the future path of interest rates
1hr chart: Price came very close to taking out that 1hr VPOC yesterday... note, price remains below its Value Area for the week, watch 4508.5 resistance & unless price regains that level that lower VPOC is still on the radar
QQQ - NDX 100 ETF - Daily chart: Price inside its Value Area and below its short term MAs (Moving Averages) and the bearish 80% rule is in effect (looking for a move through the Value Area, down to $362.77)
1hr chart: Price is between its Value Area for the week with resistance $373.01 and lower VPOC to watch $363.8... in my opinion, not much to do until one of these levels is achieved.
IWM- Russell Small Cap ETF- Daily Chart: Price closed below its 200d MA yesterday and is also below its Sept Value Area $181.96. This continues to show relative weakness and can be shorted below $181.96 in my opinion.
1hr chart: Price is below its Value Area for the week, resistance is $183.49
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
CHKP Weekly & Daily chart
Check Point Software Technologies Ltd. develops, markets and supports a range of software and hardware products and services for information technology (IT) security and offers its customers a network and gateway security solutions, data and endpoint security solutions and management solutions. (Bloomberg)
-suggested stop price $134 using the TTG MarketWebs & short term price level to target $141.13 VPOC (red line)
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