BALTIMORE ( Stockpickr) -- No news is good news this morning, as Mr. Market tries to stealthily continue on the rally that's been taking place below most investors' radar this summer.
Monday's session is kicking off to a fairly flat start, as often happens when there's a lack of earth-shattering events that took place over the weekend. Across the pond, worldwide markets are looking calm and mixed, what can only be described as a good sign for investors here at home this morning.
The S&P 500 has been tracking higher since the start of June, range-bound in a supremely well-defined trend channel. Now, with shares approaching trend line resistance, it's likely we'll see some semblance of a pullback as the market bleeds off some overbought momentum.
But here's the thing: The market doesn't feel overbought right here; in fact, it still feels like investor sentiment is still skewed towards the bear side of things.>>5 Stocks Poised for Breakouts Believe it or not, that's actually a good thing for stocks. It means that there's still an abundance of dry powder sitting on the sidelines (largely in bonds, for instance) ready to be deployed into equities when investors feel ready again. That's why we're turning to a new set of Rocket Stocks this week. For 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 weekly quantitative screen that seeks out stocks with a combination of analyst upgrades and positive earnings surprises to identify rising analyst expectations, a bullish signal for stocks in any market. After all, where analysts' expectations are increasing, institutional cash often follows. >>5 Stocks Under $10 Set to Soar In the last 163 weeks, our weekly list of five plays has outperformed the S&P 500 by 74.87%. With that, here's a look at this week's Rocket Stocks.
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 Plus 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