BALTIMORE (Stockpickr) -- At 2 p.m. yesterday, Fed Chairman Janet Yellen gut punched Mr. Market. And that's not necessarily a bad thing.
In her first FOMC meeting as the big boss, Yellen caught markets by surprise: Not only is the taper going strong in 2014, but the Fed also sees interest rates increasing in the relatively near-term. That's a big departure from the "0% forever" Fed stance that's been game-on since the Great Recession.
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Markets reacted by immediately dropping on the release of the Fed minutes, then dropping again as soon as Yellen started talking at the press conference. Despite the drop, Yellen's comments yesterday shouldn't have been quite the surprise that they ended up being; nothing has really changed in the last month.
But that market flux means that trading signals are popping up in Wall Street's biggest stocks. So today, we'll take a technical 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.
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.