Hey traders, it’s Bryce here.
The market closed on Friday, February 16 near the all-time highs.
The bullish momentum in 2024 is off the charts. And every single day there’s another low-priced stock spiking to insane heights.
First, take a look at the S&P 500 ETF Trust (NYSE: SPY) continue to make new highs:
SPY chart multi-month, 1-day candles Source: StocksToTrade
And here’s a chart of MicroCloud Hologram Inc. (NASDAQ: HOLO) as it spiked 6,400% in less than two weeks starting February 7:
HOLO chart multi-day, 15-minute candles Source: StocksToTrade
There are so many opportunities to profit right now. Especially as we start this shortened trading week!
Markets were closed on Monday for Presidents Day.
Go through the recent blog posts. There’s a lot of good information to catch you up to speed:
- Watchlists.
- The hottest catalysts.
- How to find new spikers.
Before you trade today, I have one last piece of advice to help protect your account.
PreMarket Matters
When we’re trading the markets hottest stocks, it’s essential to use support and resistance lines.
Past price action can help us determine areas a stock may consolidate or shoot through.
If you’re unfamiliar with support and resistance, watch the video below:
But it’s essential in this market to include premarket trading.
The hottest stocks in the market usually start to move during pre market hours. And traders who want to effectively map intraday trades have to pay attention to this price action.
There’s an example of premarket price action on the StocksToTrade chart below:
HOLO chart intraday, 1-minute candles Source: StocksToTrade
Here’s the reality, most free chart services don’t show premarket hours OR real-time data. That’s just the way it is in this industry.
But don’t worry, there’s a 14-day StocksToTrade trial that’s just $14.
I use StocksToTrade because it was developed specifically for small-account traders like us.
You need to have eyes on ALL the information to effectively profit and keep your account safe.
Good luck today!
Cheers,
Bryce Tuohey