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Friday, April 20, 2007

Market Carpets by StockCharts.com

I came across a useful tool-Market Carpets from stockcharts.com and would like to share with readers here.

The above "carpet" shows a bird's eye view of market summary, which includes bonds, currencies, commodities, world markets, major indices etc. As we know, inter-market relationships are important and this is a very good recap for the day. The redder the carpet is, the weaker the particular sector; the greener the carpet is, the stronger the sector is. Another feature I like is you can simply mouse over the carpet and details will show up (see gold & silver in the above carpet). Click on a sector and its price will be reflected in the chart on the top right corner.

This one is on S&P sectors, with the bigger carpet being the sectors and smaller carpets being stocks in those sectors. This one is showing the market on 1-2 Mar 07, where the market correction took place, hence a sea of red. Here, you can easily see which of the stocks in the same sector are weakest or strongest by just looking at the colour of the stock's carpet.

Other than the market summary and S&P carpets, there are a few other different carpets as well. You can also adjust the time frame to see past week, past month etc. Check it out to learn how to utilize it better. As you know, Simply Options Trader loves to use free tools and this is one of them!


Anonymous carbtrader said...

Very nice! Thanks a lot for the link to it :)

3:54 AM  
Blogger Simply Options Trader said...

Hi Carbtrader,
You're welcome. Hope you will become a regular of this blog as I will post such great (& free) trading resources whenever I come across one.

8:53 AM  

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