BALTIMORE ( Stockpickr) -- Yesterday's trading session was quiet -- a little too quiet. Investors spent the whole day lying in wait for FOMC minutes and Fed Chairman Bernanke's comments at an NBER conference, but when they finally came, they couldn't figure out what to do.
The S&P 500 hemmed and hawed after the 2 p.m. minutes release, looking a whole lot more like the EKG of a heart attack patient than a stock chart. But this morning, it looks like market participants have finally settled on a direction to end the week.
"The overall message is accommodation," Bernanke assured his audience yesterday. Heh, message received.So as stock priced get buoyed today, it makes sense to take a technical look at the big trades setting up in some of Wall Street's biggest names. >>5 Dow Dividend Stocks to Beat the S&P If you're new to technical analysis, 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. >>4 Big Under-$10 Stocks Making Big Moves Every week, I take an in-depth look at big names that are telling important technical stories. Here's this week's look at five high-volume stocks to trade this week.