The markets favor certain kinds of setups certain market phases. At a beginning of market rally from a deeper correction of 20% plus , typically allboats are lifted and beaten down stocks make big moves.
If you see the image below you will see the stocks up most in first 30 calendar days of this rally. None of them were near 52 week high. Contrary to what you hear all the time that stock that hold up well are first to rally from correction , if you study markets you will see it is not true.
If you look at same period on S&P 500 components you will see same trend.
Why do certain market myths persist. Because many trades never question assumptions or are in too awe of some famous traders who perpetuate such myths.
As a result you are building your trading around market structure which may or may not be true.
If you are looking for making ton of money in the market , the first starting step should be to have correct market structure understanding . Once you understand that you can build your setup around what really works in the market.
Stocks setting up for breakout in next few days