BALTIMORE ( Stockpickr) -- "Oops."
At least, that's what I imagine someone must have said at the Fed when officials realized that they'd accidentally released FOMC minutes to banks and a handful of other groups a day early. Clearly Mr. Market didn't care -- yesterday's 1.22% rally in the S&P 500 (and colossal 1.83% rally in the Nasdaq) is proof enough of that.
News that the Fed was pondering an end to stimulus helped spur buying in stocks, but market watchers should be careful not to ascribe too much emphasis to how much the announcement impacted the market. After all, stocks have been consolidating for the last month and change after staging an extremely orderly rally -- so in my view, yesterday's breakout was more a function of some positive news hitting the market than what positive news hit the market.The new all-time highs in two-out-of-three big indices yesterday matter. That's because they're spurring on attractive trading setups in some of the biggest names on Wall Street; today, we'll take a technical look at five of them. >>5 Hated Stocks to Beat the S&P in 2013 If you're new to technical analysis, here's the executive summary. 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 to Keep on Your M&A Deal Radar
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