MarketReader Co-Founder and CTO Web Begole joined PreMarketPrep’s The Closing Print to talk about last week’s movements in the stock market and share a demo of MarketReader.
Using UnitedHealth Group (UNH)’s recent surge in price movement, Web showed how you can use MarketReader’s Macro ETF Monitor to view the healthcare sector and its drivers, dive into UNH’s movements and explanations, then explore correlated assets that are moving because of UNH.
“One of the really cool things that I love about [MarketReader] is maybe you have Humana (HUM) in your portfolio and that’s the only health care stock you have, and you’re wondering what’s going on with it today,” Web explained. “It’s up today, it’s in the 97th percentile…Our system automatically says it’s moving in sympathy with UnitedHealth Group. It can detect the correlation between the two and the news that’s going on there.”
MarketReader’s insights and explanations can help all investors save time by focusing on only the most unusual moves in the market and understanding their primary causes in seconds.
“We all have our news feed that helps us trade everyday, but it can often get very noisy. You never know what headline is actually relevant so you get a bit of experience, you watch that stock for a while, and you know what’s relevant to that stock,” Web said. “[But with MarketReader,] all of this is done automatically.”
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