Finding the Right Sector
One of the hardest things about trading is finding the right areas to focus.
Have you ever spent a day trading a stock that wasn’t moving only to see everyone else focusing on a different stock that made a large move?
One way to ensure that doesn’t happen is to stack rank the sectors against each other to find where the money is flowing.
Comparing Sectors
In Tradingview (and you can also do this on other platforms) it is possible to put every sector onto the same chart to see which sectors are rising and which are falling.
My advice is to do this often - and to look at these rankings from a daily and weekly perspective.
You can also look at which sectors saw inflows in the last 10 minutes of a given day as this is when institutions are getting their MOC orders filled.
See below for an example of what this looks like.