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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- S&P ETF - Price ~ flat this morning as we start the 2nd week of '24. The macro main event this week will be CPI /PPI data which starts on Thurs. Note, Bank earnings start on Friday with JPM, BAC, etc. & JPM has their Health Care conf this week.
Back to the price action - I am waiting to see if price can regain its short term MAs (Moving Averages)
1hr chart: Price starts the week inside its new Value Area and I think it will be important (in the short term) for price to hold support $466.51. Note, top of value resistance is $471.31
QQQ - NDX 100 ETF - Daily chart: Similar to the S&P, I am watching to see if price can retake its short term MAs this week
1hr chart: Price also starts the week inside its mew Value Area, support to watch is $395.14 & resistance $401.3
IWM - Russell Small Cap ETF- Daily Chart: Price trailing just a touch this morning, ind -0.1% and also is just below its short term MAs
1hr chart: Similar to the S&P and QQQ, price is inside its new Value Area for the week, support $191.44 & resistance $197.55
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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