Monday, April 8, 2013

FSC Tool...Chart Overlays...4.8.13

I've mentioned freestockcharts before and over the weekend I captured the various T2 study portfolios in FSC and saved in the USER REFERENCE section on this site for easy access.  I receive no kickback from FSC, I just think it's a great tool and provides a real time data feed  for most ETFs and stocks that have any decent volume.
One of the many things you can do with FSC is set up a multi-chart comparison of 6 issues in the time frame of your choice to see how momentum is moving between the portfolio components.

Here's a look at the T6 bullish portfolio on hourly bars showing how XLV and XLU have held up while other issues have faltered. SPY is shown as the shaded area...other ETFs are shown as line charts. 

The 10 period linear regression line applies to the SPY and is shown as a dotted purple line. The dotted white line is the VWAP of SPY....(volume weighted average price), a well known technical indicator useful for confirming price momentum.

What you don't get with FSC is any performance metrics so this is most useful as a visual aid in seeing how market dynamics are playing out.