The U.S. stock market is in a congruent uptrend since the beginning of the year. S&P 500 YTD has now pared off 2018 performance. The FED remains the main driver of the stock market direction as we have witnessed on the December & January FOMC tone on rate & balance sheet normalization outlook.
Per price action basis, the Cloud SaaS stocks has been the top performers or the new FAANG group; namely TTD, TEAM, TWLO, WDAY, DATA, SPLK, NOW, & CRM. If you are a momentum or trend trader, those names are perfectly suited for your strategy.
For small caps biotech stocks: