The Canadian Technician

Fed Changes Direction - What Else Did?

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When the Fed speaks, the market listens. Today, the Federal Reserve announced changes to its bond buying program. Immediately after, the stock market went on a soaring ride. But what else moved? How can we find out quickly?

Here is a chart of some of the things we expected to move, other than the indexes. This is a three day 5 minute chart. The snapshot is just before 3 PM EST.

Fed Spikes 20131218


Notice the two on the bottom. How can you find these quickly as they happen?

One method I use is to watch the most changed SCTR rankings.

If you look at the picture below, you can depress the tabs at the top of the rankings on the home page.

Screen Shot 2013-12-18 at 1.01.49 PM

The difference between the $SPX SCTR display and the ETF display is that I have clicked on 'Top Up '. So that gives me the biggest movers on the day. 

If you click on the $TSX one, you'll find gold stocks jumped as a stock list. So even though Gold barely budged so far, the gold stocks got a major push up in Canada.

Screen Shot 2013-12-18 at 1.04.58 PM

This list changes fast. You can also access another view by clicking on 'Complete SCTR Ranking' just under those boxes.

By looking at the ETF list below and sorting based on the most changed on the day, you can be aware of the changes in the underlying marketplace.

Screen Shot 2013-12-18 at 1.08.11 PM

The copper CUPM  ETN is now on this list. This particular ETN is thinly traded, so you will still have to look at the charts. Emerging markets, Nuclear, Home builders, and High Yield. Its a fast way to sort through the noise.

Good trading,

Greg Schnell, CMT

 

 

Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA). Learn More
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