) -- You know it's been a crazy month for stocks when yesterday's 0.07% decline in the
was one of the four biggest down days in May.
I, for one, don't necessarily think that's a bad thing. As breakneck as the market's pace has been this month, this rally has been nothing if not orderly -- I've been saying that since the S&P's uptrend started back in November. This week, as the broad market peeks up into overbought territory for the second time in this rally window, I think we're due for a correction. Just not necessarily a downward one.
>>5 Stock Trades for S&P 1,700
After all, the last time the S&P hit "overbought" on is
, the big index managed to keep its grasp on the top of its price channel for the next few weeks.
We're not exactly in uncharted territory here -- so why should this time be any different?
That's why, today, we'll take a technical look at
five stock trades
that look attractive right now.
>>5 Rocket Stocks Ready for Blastoff
For the unfamiliar,
is a way for investors to quantify qualitative factors, such as investor psychology, based on a stock's price action 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.
So, without further ado, let's take a look at
five technical setups
worth trading now.
>>5 Stocks Setting Up to Break Out