You asked, we listened! 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 update, we have added three new market data feeds to TrendSpider, in addition to the data feeds already supported.
Chicago Fintech invents a new human-friendly volume profile chart that helps traders focus on actual market sentiment rather than abstract prices.
CHICAGO, May 29, 2019 — TrendSpider, today announced the release of a new type of financial chart, called Raindrop Charts™.
The Raindrop Chart is a new type of financial chart that abstracts away arbitrary constructs, such as open and close prices, and focuses on changes in market sentiment. Rather than conveying price changes, Raindrop Charts incorporate volume to validate price movements and provide deeper insights. This makes it a compelling alternative to traditional candlestick charts that focus exclusively on price and require additional overlays to analyze volume.
In a Raindrop Chart, each bar, known as a Raindrop, covers a fixed period of time and consists of the high, low, along with left and right means. The left mean is the mean price, weighted by volume, for the first half of the period, and the right mean is the mean price, weighted by volume, for the second half of the period.
In this weekend’s analysis, we take a look at the short term price support on the EMA (50) for SPY and QQQ but resistance for XBI. The biotech chart is a great example of using the TrendSpider indicator alert when the price action hit the EMA (50) was and rejected hard to the downside. Learn more below!
In this weekend’s blog post, we take a look at the broad market ETF’s into Monday. The weekly candles held the SMA (20) on both SPY and QQQ but XBI closed through this area and could be telling for what’s coming next week.
A prepared trader is a generally a profitable trader, and Sunday is a great day to get ready for the week ahead by studying up from last week’s price action. In this weekend’s analysis, we take a look at how the SPY, QQQ, and XBI ETFs are shaping up into next week. As the first weekly red volume bar of the year, is this a point of a reversal or just a quick consolidation zone before the next leg up?