BALTIMORE (Stockpickr) -- With new all-time highs in the Dow Jones Industrial Average and the S&P 500 just 1.5% away from hitting new highs of its own, investors finally have some reason to celebrate stocks again. That's because, strange though it may seem, nothing fuels a stock rally like new highs.
Even though it may have felt like it in the last five years, new highs aren't some sort of rarity. In fact, over the last five decades, big indexes have spent most of their time within grabbing distance of setting a new high water mark. If anything, new highs are normal for stock investors - and it's about time Mr. Market started getting back to normal.
While we're still a while away from the aggressive Dow 55,000 target I set back in October, the big index has already managed to climb close to 10% since then. Still, I'll hold my celebrations until the S&P manages to push through to a new all-time high; it could very well happen this week.As the market moves, so do its constituent stocks. That's why, today, we're taking a technical look at the price setups forming in five of the biggest names on Wall Street. If you're new to technical analysis, here's the executive summary. >>5 Favorite Stocks From the Pros Technicals are a study of the market itself. Since the market is ultimately the only mechanism that determines a stock's price, technical analysis is a valuable tool even in the roughest of trading conditions. Technical charts are used every day by proprietary trading floors, Wall Street's biggest financial firms, and individual investors to get an edge on the market. And research shows that skilled technical traders can bank gains as much as 90% of the time. Every week, I take an in-depth look at big names that are telling important technical stories. Here's this week's look at the charts of five high-volume stocks to trade for gains. >>5 Stocks Poised for Breakouts
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV