BALTIMORE (Stockpickr) -- U.S. markets "melted up" yesterday, tacking onto the already impressive performance that stocks have turned out over the course of 2013. And while early trading this morning is pointing toward a correction, I'm using the term loosely here.
As I write, the broad market is sitting almost 15% higher than it was at the start of the year.
A lot of Mr. Market's upward momentum has to do with earnings season. While earnings growth was pretty standard in the first quarter, 72% of S&P 500 components have beaten Wall Street analysts' expectations. That's a pretty strong signal that investors are still uncomfortable about more upside in stocks -- and it's a bullish contrarian signal for the S&P's run this quarter.Meanwhile, some big trades are heating up this week. That's why, today, we'll take a technical look at five big stocks worth trading in May. If you're new to technical analysis, here's the executive summary. >>5 Stocks the Smart Money Hates -- But Should You? 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 five high-volume stocks to trade for gains. >>5 Stocks Insiders Are Scooping Up
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