Stockpickr) -- Investors can breathe a collective sign of relief this morning -- for now.
Buyers are coming back into the market on Thursday, as Greece's biggest step toward restructuring relaxes some of the biggest worries about stocks. The Greek debt swap has already been agreed to by the majority of the country's lenders, a critical factor in making yesterday's bounce stick in the
S&P 500 and the
While it's "Data Thursday" today, Wall Street is expecting fairly limited economic numbers today. That's why the good news from Greece is so timely. That being said, jobs, Fed balance sheet and money supply data, and treasury auctions are all still going to be market-moving events for stocks today; if numbers can manage to come in above expectations, they could add some fuel for this late-week rebound.
>>5 Cash-Rich Stocks to Buy in 2012
From a technical analysis perspective, pullbacks (like the one we saw this week) are an integral part of rallies; so, the selling we saw to start the week is actually a healthy thing for the broad market. Now, if buying pressure can help the S&P stick above resistance, we could be about to set out on the next stage of this 2012 rally.
To take full advantage, we're turning to the technicals in five of Wall Street's big-name stocks this week.
If you're new to
, 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, we take an in-depth look at large-cap stocks that are telling important technical stories. Here's this week's look at the technicals of
five must-see stocks