I mentioned several weeks ago to members of Selfinvestors.com that another major upgrade is in the works.. I won’t give a timeline because these projects always seem to take much longer than expected. BUT, I will say that one new feature will be a Market Snapshot page where you’ll be able to quickly see just how well the overall market is doing. Along with this new feature will be a MidDay Update on days when the market moves significantly in any one direction. I’ll discuss the strength of the move as well support and resistance areas. This new feature will be available to registered users of SelfInvestors.com completely free.
** MARKET SNAPSHOT **
Looking at the price change is of course one piece of the supply/demand puzzle that all financial sites use. What you won’t see at nearly every financial site is a focus on the volume behind each move. That’s where the SelfInvestors Market Snapshot page comes into play. Throughout the day (updated every 15 min.), you’ll be able to not only see price changes in the major indices (Nasdaq and Dow) and ETF tracking indices (SPY, QQQQ, DIA & IY), but you’ll be able to guage the volume as compared to its average at 15 minute intervals throughout the trading day. For example, at 1:15PM EST the Nasdaq is up 1.7%, but volume is tracking 11% below the average at this point in the trading day.
We’re at the halfway point of the trading day today and looking at the numbers makes it clear that today’s rally doesn’t have the big fellas behind it. Considering yesterday’s volume was very light as well, we could still get a day of accumulation (if today’s volume can surpass yesterday’s), but we’re going to need to see some volume into the close on the upside.
The rest of today’s data is as follows:
Nasdaq ETF (QQQQ): up 1.85%, volume currently tracking 6% higher than average
Dow: up .84%, volume -25% from average
Dow ETF (DIA): up .84%, volume -42% from average
S&P500 ETF (SPY) up 1.00%, volume -16% from average
Russell Small Cap ETF (IYM): up 1.57%, volume -23% from average
** Self Investors Leading Stocks Index **
Another component of the Market Snapshot page is the data for the SelfInvestors Leading Stocks Index, which you can currently find just to the right of this post. SelfInvestors Leading Stocks are stocks that are currently in the Breakout Tracker database. Most of these stocks are near a breakout or have already broken out. This database is comprised of market leaders so provides a great look at the health of the market. Again, looking at today’s data indicates that the rally today is muted.. no reason to get too excited about today’s move.
While advancers are crushing decliners 313 to 34 and advancing stocks are up 1.96%, volume is currently 16% below average at this point in the trading day for these advancing stocks. Institutions are not putting money to work in leading stocks today.
** Where’s the Money Flowing **
Many websites just provide leading industries based on price performance alone. Without the volume, this can be misleading. The only way that I know of to guage industry/sector strength WITH volume levels is through the analysis of ETF’s. A couple years ago this was not possible, but as more traders/investors use ETF’s they become a much better tool for guaging the health of the market and seeing where the money is flowing (or not flowing). Using the proprietary SelfInvestors Demand Indicator score which measures price and volume movements, I’m able to quickly see which sectors/industries are seeing the greatest inflows of cash. For example, the Market Snapshot page is currently showing that demand is currently greatest in Pharmaceuticals, Financials, Gold, Health Care and Telecom while demand is weakest in Consumer Services, Aerospace/Defense, Internet, Transports and Oil & Gas Services.
** Stocks **
The final component of the Market Snapshot page is a section that displays Breakout Tracker stocks moving up and down with significant volume. This area is still in the planning stages.
** Several Other Features Planned **
Other components of the Market Snapshot page will include article headlines, SelfInvestors portfolio allocation, quick links to SelfInvestors State of the Market reports, Accumulation/Distribution calender, etc.
If you’d like to begin receiving the MidDay Updates as well as the Weekend Review Reports, feel free to sign up for the free membership on the home page of SelfInvestors.com