I've been trading for a couple of years and lately I've been doing very well by paying attention to relationships and divergences among stocks/ETFs/commodities. Trying to understand and exploit the ebb and flow among sectors. Attempting to identify where long-term accumulation is taking place. First and foremost I watch SPY/QQQ/IWM, ES/NQ/RTY, VIX/VX, DXY/USD, and the 10Y. I also watch the SPDR Sector Funds like XLK, XLF, XLV, XLU, XLY, XLE, XLP, XBI, etc. Additionally, IWC (micro-caps) and IJH (mid-caps).
And VTI (whole stock market ETF) and VT (whole world market ETF) I watch on the weekly chart to get a sense for where the world markets are trending in general. I haven't branched into other markets much, mainly focused on identifying
1) where the current strength in the market is
2) whether the market is remaining orderly/non-volatile
3) how much divergence is taking place among sectors/stocks (e.g. last year felt like indiscriminate selling, this year the divergences are tremendous)
For individual stocks, I basically rifle through stocks with setups that interest me and I really lack organization for what I have on my charts during a trading day. I use Thinkorswim and typically have about 20 charts up across 3 monitors. It's been a challenge to manage my screen real estate and I still change things up all the time, haven't found a solid methodology I guess for what I have pulled up. Undoubtedly what you have pulled up can effect what you trade, how you perceive the market throughout the day, etc.
A lot of times I have AAPL, TSLA, GOOG, AMZN, up at all times. From there I have a mix of stocks from other sectors, maybe a couple wildcards like a small cap/squeeze name. But generally my goal is to display to myself options that I'm unlikely to be severely wrong on, or end up taking a big loss on. I go through and adjust what I'm looking to every night, but admittedly I do need more organization, journaling, and operating more systematically.
So what is your process for evaluating the market? Discovering stocks and setups. What do you have open during the trading day? How many charts? Do you purposefully limit what you see? Do you use any websites/tools to organize your watchlist(s)? Give me your wisdoms
[link] [comments] https://www.reddit.com/r/stocks/comments/14qnqfd/what_is_your_process_for_discoveringreviewing/
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