BALTIMORE (Stockpickr) -- Taper? What taper? Fed Chairman Ben Bernanke may as well have worn a suit made of money and a solid gold grill to his press conference yesterday. It would sent the same message to Wall Street: this tap ain't dry yet.
But even though the Fed went with the boilerplate minutes release and conventional 2 p.m. press conference, it didn't take long for investors to get the message. The S&P 500 shoved up hard to close at 1,725.52 -- a new all-time high for the big index.
From a technical standpoint, this move is textbook after the bounce off support we got earlier this month.I've heard plenty of people claim that prolonged quantitative easing means "more free money." Make no mistake: QE isn't free. Not by a long shot. But the Fed is dishing it out no matter what, so anyone who doesn't position themselves long equities in the face of it is setting themselves up for failure. >>5 Stocks Set to Soar on Bullish Earnings And this week, the technicals are helping us spot some of the most attractive setups. Today, we'll take a closer look at five of them. 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. >>5 Rocket Stocks to Buy as Mr. Market Climbs 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.
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