In this weekend’s analysis, we take a look at the broad market ETF’s into the last few days of April. As divergence was showing its head last week on SPY and QQQ, it seems bulls have decided this run isn’t over as all-time highs were hit in tech and nearly hit on S&P. Make sure to also check out how we utilize the multi-factor and trendline alerts for the system to watch into next week.
The arrival of Spring has most of us itching to take a vacation—or as traders say, “sell in May and go away”. Unlike many trading adages, historical data seems to support the theory that stocks underperform in summer. The catch is that past is no guarantee of the future, and sometimes, staying out of the market still results in missed opportunities.
Let’s take a look at the historical data behind the popular trading adage, some potential reasons for these trends and whether you should sell in May.
Chicago Fintech launches groundbreaking new backtesting and alert capabilities to monitor charts for high-performance trade setups and send real-time alerts.
CHICAGO, Apr. 22, 2019 — TrendSpider, today announced the launch of backtesting capabilities and multi-factor alerts for its cutting-edge automated technical analysis platform.
The Strategy Tester helps active traders instantly backtest the performance of complex technical strategies. For example, active traders can define entry and exit rules based on candlestick patterns or technical indicators and see how the strategy would have performed in the past relative to a benchmark index. Successful strategies can be converted into a multi-factor alert in just a couple of clicks to help traders identify high-probability trading opportunities and potentially generate more consistent returns.
In this weekend’s blog post, we take a look at the broad markets into next week as SPY continues to look toppy near “All-time highs” as the more speculative ETF play, XBI, continues to breakdown. See what the charts are looking like into next week as well as an example of how our multi-factor alert triggered last week. Easily set your own criteria and have the system watch it for you with the TrendSpider platform! Ready to backtest your strategy next week? Take a look at our brand new “Strategy Tester”!
At TrendSpider, we are constantly working on adding new, useful features to our platform as well as updating and improving the ones we currently have. In this blog post, we take a look at the logarithmic scale option and the ability to draw line segments. See the difference by logging in now!