Howdy traders, it’s Bryce here.
Yesterday we got a good look into the top trends moving stocks.
Monday helped set the tone for the week.
There’s no guarantee in the market … but that’s why these trends are so important.
In a niche full of uncertainty, the obvious commonalities are a trader’s best friend.
Things like …Â
- Hot sectors
- Popular patterns
- Sector leaders
Those specifications help us narrow down our list to a handful of decent trade setups.
There are thousands of stocks moving every day. We only want to trade the best ones.
Keep reading for Monday’s top runner and a key sector to watch throughout the week …Â
Market Sentiment
As always, before we do anything we need to consider the overall market sentiment.
Last week major indices dipped substantially from the highs.
It’s possible that prices found support and this week we could experience a decent bounce. But I’m not one to speculate, we’ll have to wait and see.
There are earnings reports due this week from major retailers. And the FED is also scheduled to announce meeting minutes on Wednesday.
Those are some of the important things to keep an eye on.
But remember, our niche isn’t directly impacted by the larger market. Instead, there’s an indirect relationship.
If the market dips again this week, there will still be opportunities to profit. We’ll just have to be more selective as there might be fewer.
Keep an eye on major indices like the S&P 500 ETF Trust (NYSE: SPY) to gauge market sentiment.
Here’s what I saw yesterday and what I’m looking for today …Â
Top Runner
On Monday morning, Taysha Gene Therapies Inc. (NASDAQ: TSHA) announced $150 million of secured financing.
- It’s a biotech
- The float is decently low
- The news shows value-added
- It spiked in pre-market
It checks off all the boxes.
Before noon the price spiked more than 160%. And if the price stays up, it’s a continued watch for the rest of the week. This thing could move higher.
As for new spikers …Â
I’m watching for more biotechs. The sector is still hot, and it’s a trend that can lead me to more trade setups.
If you struggle to find the right setups …Â
Stop struggling alone. There are FREE live webinars DAILY.
- Show up when you want
- View live market price action
- Ask questions in real-time
It’s a front-row seat to professional traders in their environment. And it’s the best way to learn. Take it from someone that used to be where you are.
Here’s the link to daily live-trade webinars.
Monday morning I saw TSHA from a mile away.
If you didn’t, watch some live webinars and things will start to click.
It’s not rocket science. It’s experience and pattern recognition.
See you in the next letter.