All posts by Murray Ruggiero

Secret Weapon of Stock & ETF System Development

This is the second article in a two-part series where I discuss the top three pitfalls when backtesting Stock & ETF trading systems. In the first article, The Top Three Pitfalls of Stock and ETF System Development, I highlighted the top three issues system developers face. In this article, I’m going to show you how […]

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The Top Three Pitfalls of Stock And ETF System Development

During my nearly 25 years of experience in the trading business, I have talked to many traders about system development. Futures trading systems and back-adjusted contacts are fairly well understood. Recent issues with the pits closing and markets being only electronic have created some issues but it’s still relatively straight forward to design a trading […]

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Intermarket Divergence – A Robust Method for Signal Generation

Intermarket relationships between 2007 and 2009 for the S&P 500

Many markets are interrelated. These interrelationships can offer predictive capabilities for many markets. The study of these interrelationships is called intermarket analysis. In this article I will briefly explain a robust method for generating robust signals for a wide range of markets. I will also offer a free TradeStation tool to help you explore intermarket […]

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The Road to Finding Intermarket-Based Turning Points

I developed the concept of intermarket divergence approximately 20 years ago. It has proved to be a powerful concept since then. Reflecting back to 1995, I realized that the development process was interesting. I was developing many futures-based trading systems then. The problem with futures is that most backtests and systems are based on continuous […]

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Development of Intermarket Trading Systems

In my past article, Intermarket Is Fundamentally Sound,  I covered some of the basic premises and history of intermarket trading systems. While the previous entry was more theoretical, this article is more practical. Indeed, I will be discussing how intermarket analysis can be used to generate mechanical signals. I will also walk you through the […]

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Intermarket Analysis is Fundamentally Sound


Intermarket analysis is a powerful tool that a trader can use to get an edge on the market. This type of analysis can be thought of as a type of instantaneous, fundamental analysis, which if done correctly, is a form of arbitrage. In this series of articles, we will show how and why intermarket analysis […]

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