Stockpickr) -- The QE3 hope game continues this week, after yesterday¿s Fed minutes sent investors poring over the transcripts for hints at another round of easing.

That QE3 carrot has been dangling in front of investors for a while now, giving some hope to an investing public that¿s clearly losing faith in stocks. But while drama has ruled the financial headlines in 2012, anxious investors have been missing a colossal rally from the start of June until now. I¿m not convinced that QE3 -- or any kind of easing, for that matter -- is such a good thing for investors right now.

And I¿ve already shown how the next round of quantitative easing is probably based on a hard number rather than some ¿feeling¿ at the FOMC.

>>5 Unloved Stocks to Crush the S&P

If nothing else, this summer¿s rally proves that investors don¿t need easing to spark a rally in stocks, especially if they¿re looking cheap relative to a handful of valuation metrics and strong from a technical standpoint.

With the S&P 500 plowing to new 52-week highs this week, investors had better get the message that it¿s time to buy right now. That¿s why we¿re taking a technical look at five huge stocks that could slingshot higher from this rally.

If you're new to technical analysis, here's the executive summary.

>>5 Blue-Chips Ready to Boost Dividends

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 ro"/>

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5 Huge Stocks That Could Slingshot Higher

Coca Cola  

Coincidentally, one of Warren Buffett's favorite stocks is looking strong from a technical standpoint too this week. Coca Cola (KO) has been in a long-term uptrend since the end of 2011, rallying close to 18% since the end of November. That's some big performance for a staid $175 billion name like Coke.

The uptrend in Coke is significant because it has taken place within a clearly defined trend channel. That channel gives traders high probability expectations for the moves that Coke makes -- and it's providing us with a trade right now. In a trend channel, the ideal time to buy is when shares bounce off of trendline support -- almost exactly where Coke's sitting right now. The fact that KO has bounced higher off of support the last seven times it fell to that level bodes well for bounce number eight.

>>5 Consumer Stocks Hedge Funds Love

If you want to take the Coke trade, it's critical to wait for KO to actually bounce, and not to try to anticipate it. That's because trend lines do eventually break, and when Coke's does, you don't want to be left holding the bag. A bounce means that shares can catch a bid at support and that the channel remains intact.

I also featured Coca-Cola, one of Warren Buffett's holdings, in "5 Rocket Stocks Worth Buying This Summer."

Goldcorp

Goldbugs have been having a tough run in 2012, but that could be about to change.

From a macro level, I think that there's reason to like gold right now, particularly given the piling of investors into treasuries when rates are near zero and inflation is well above 2.2%. But macro theses take a long time to pan out, whereas the technical setup in gold miner Goldcorp (GG) is likely to be a quick move.

Right now, Goldcorp is forming a double bottom, a reversal pattern that's formed by two swing lows that hit support at around the same level. The buy signal comes when GG breaks out above the peak that separates those two lows: $41.

It's worth noting that this setup isn't limited to Goldcorp. Peers such as Newmont Mining (NEM) and AngloGold Ashanti (AU) are forming nearly identical setups right now. With all three, it's crucial to wait for that peak to get broken before buying. That's the best indication that buyers are in control of shares.

To see this week's trades in action, check out the Technical Setups for the Week portfolio on Stockpickr.

-- Written by Jonas Elmerraji in Baltimore.

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Stock quotes in this article: AAPL, MTB, GG, KO, BRK.B 
At the time of publication, author had no positions in stocks mentioned.

Jonas Elmerraji is the editor and portfolio manager of the Rhino Stock Report, a free investment advisory that returned 15% in 2008. He is a contributor to numerous financial outlets, including Forbes and Investopedia, and has been featured in Investor's Business Daily, in Consumer's Digest and on MSNBC.com.

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