TTG Index Charts & Proprietary Stock Screen 4/26/23
Out of the Box MarketWebs Screen
Index Updates
Participation has rolled over in Equities (see $NYSI & $NASI below) and the next couple days will be important to see if breadth improve - remember, from a stock picking point of view and investment landscape, we want to see more advancers or an increase in participation vs contraction or a pick up in decliners. The $NYSI & $NASI is a good visualization of what is going on under the hood of the indices in those regards and has started to turn lower.
One positive is that we are seeing a decent bounce in cryptos which often can be a more “risk on” signal. Will see if breadth confirms that “risk on” signal once the market opens.
$ES_F - S&P futures - Daily chart: Despite some good earnings reports there is some technical damage here in the S&P with price below its 5d & 20d EMA, if price continues to deteriorate watch the top of Apr Value Area support 4046.5
1hr chart: Price decently below Value Area for week and for now holding S2 (extension from Value Area), watch 4094.75
$NQ_F - NDX futures- Daily chart: Price has broken into its Apr Value Area and below those short term 5d and 20d MAs, watch 13,052.25 (QQQ $311.89)
1hr QQQ chart: Price took out a VPOC (red line) yesterday and is back above , watch $311 to see if price can stay above
$RTY_F - Russell Small Cap futures- Daily Chart: Price at the lowest point its been in April so far and bottom of value support is 1724.8 (IWM $169.37)
1hr chart: Price consolidating around that VPOC take out , lets see if that can provide some stability
Here is today’s TTG Proprietary Stock Screen using Volume At Price
Clearly, just as the $NYSI and $NASI are showing above, there is a decline in market participation and breakouts.
Remember, this is just one type of screen / setup that I focus on in my analysis!
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