BALTIMORE ( Stockpickr) -- European debt concerns, sluggish economic data back home and mixed corporate earnings numbers all weighed on stocks last week, pushing major indices into slightly negative territory by Friday's close. This week, the focus will be on much of the same news items as market participants await some resolution before opting to sink their cold, hard cash into risk assets once again.
The market's relatively flat downward skew has proven particularly painful for traders in the last few weeks. With an absence of directional trading opportunities in this ranging market, the effects are being felt everywhere from institutional trading floors to retail traders' accounts. That said, some evidence suggests that the market could be soon to break free of its trading range.
Naturally, we'll want to take full advantage of any such move -- that's why we're looking at five new Rocket Stocks plays for this week.
Related: 17 Breakout Momentum StocksFor the uninitiated, Rocket Stocks are our list of companies with short-term gain catalysts and longer-term growth potential. To find them, I run a quantitative screen that seeks out stocks with a combination of analyst upgrades and positive earnings surprises. In the last 104 weeks, Rocket Stocks have outperformed the S&P 500 by a very material 78.44%. Here's a look at this week's plays.