Tuesday, September 29, 2009

Screening for Intraday Strength and Weakness

If you click on the Trade Ideas display above, you'll see how I'm tracking five-minute new highs and lows; moves above and below VWAP; and opening range breakouts for my basket of 40 stocks. Over time, you can see the flow of green (buying interest) and red (selling interest) and gain a feel for how the market is trading overall. By knowing which stocks belong to particular sectors, you can also track strength and weakness among the sectors and differentiate range/rotation markets from trending ones.