BALTIMORE (Stockpickr) -- An emphatic bounce in stocks yesterday shed some of the concern over Friday's selloff, which took the S&P 500 all the way from resistance at around 1300 to support at 1275 during the course of the day's trading action and increased the index's overall volatility by 25%.
But the renewed flux in the equity markets is translating into a rally for other markets.
Brent crude oil rose to over $100 per barrel yesterday, the first time the stuff has seen triple digits since back in late September 2008. As continued unrest in the Middle East threatens the flow of crude, oil prices could have a shot a breaking through resistance levels that currently sit just overhead. You can bet that commodity investors will be watching closely.
Meanwhile, in the stock market, earnings season is continuing full bore. We'll take advantage of the added action by taking a look at a new set of Technical Setups for the Week.Related: Must-See Charts: Abbott, Toyota, Schlumberger Remember, 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.
Select the service that is right for you!COMPARE ALL SERVICES
- $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
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV