This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Technical Setups: Morgan Stanley, Lockheed

BALTIMORE ( Stockpickr) -- 2010 is looking to end on a strong note, following another day of relatively flat market action overall.

Wait. How does a flat trading day spell potential gains as we approach year-end?

Even though the S&P 500 gained a paltry 3.17 points yesterday, as far as I'm concerned, the key to yesterday's market action was the fact that stocks held above support and bled off more of their overbought momentum. Those two attributes will be key as major indexes lay a foundation for further gains in 2011.

Economic data is always an important factor, but market fundamentals are less important right now. Ultimately, the market's driven by supply and demand, and investor sentiment is going to be the main driver of price action in the next few weeks. Now, as investors surmount their anxieties over the rebound that stocks have enjoyed since 2009's lows, the bulls could have an opportunity for another rally leg in the first quarter of 2011.

Let's hope for another quiet week for Wall Street in the mean time.

Related Article: 4 Stocks Poised for Breakouts

That's not to say, of course, that there won't be more immediate opportunities for technical-analysis-driven gains. As always, this week we're taking a look at three more promising technical setups.

Technical analysis is a way for investors to quantify qualitative factors, such as investor psychology, based on a stock's chart patterns and trends. Once the domain of cloistered trading teams on Wall Street, technicals can help top traders make consistently profitable trades and can aid fundamental investors in better planning their stock execution.

Here's a look at this week's potential trades.
1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
JJSF $101.13 0.00%
LMT $232.38 0.00%
MS $27.06 0.00%
AAPL $93.74 0.00%
FB $117.58 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs