BALTIMORE (Stockpickr) -- Buyers flexed their muscles in yesterday's market session, pushing the broad market from medium-sized losses in the big indices at the open to medium-sized gains. If you own stocks right now, that's a very welcome sight.
There's a lot of headline risk baked into Mr. Market right now. Between earnings season and the battle that wages on in Congress, there is no shortage of items that could inject volatility into stock prices in October. But buyers' asserting themselves yesterday is a good sign.
Another good sign comes from the technical picture in the broad market. With another big confirmed bounce off of the S&P 500 long-term uptrend line this week, now looks like a good time to be a buyer.>>Why I'm Sticking By Dow 55,000 I've said all year long that we're in a "buy the dips market." Well, that was a dip. But it's not good enough to just say buy stocks in general. That's why we're taking a closer technical look at five individual names with breakout potential this week. >>5 Rocket Stocks to Buy This Earnings Season For the unfamiliar, technical analysis 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.
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 + 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