BALTIMORE (Stockpickr) -- It's earnings season, and the fundamental results continue to look overwhelmingly positive for U.S. stocks. Since the "official" start of earnings season on July 8, 76% of S&P 500 components that have reported so far have beaten Wall Street's earnings estimates. That's a pretty clear indication that analysts are underestimating stocks' earning power in general for the quarter.
But while earnings have been a big positive so far, price action hasn't followed suit. Since that July 8 kickoff, the S&P has only moved 0.03% higher, a pretty immaterial move. That's pretty indicative of the anxiety levels in the broad market right now. With the big indices pressing up against all-time highs, many investors are feeling the most cautious they've been since 2009.That's why, this week, we're turning to a fresh set of "Rocket Stocks" worth buying this week; these are the names that are most apt for upside traction in July. (Check out last week's Rocket Stocks here.) For the uninitiated, "Rocket Stocks" are our list of companies with short-term gain catalysts and longer-term growth potential. To find them, I run a weekly quantitative screen that seeks out stocks with a combination of analyst upgrades and positive earnings surprises to identify rising analyst expectations, a bullish signal for stocks in any market. After all, where analysts' expectations are increasing, institutional cash often follows. In the last 258 weeks, our weekly list of five plays has outperformed the S&P 500's record run by 78.88%. >>5 Dividend Stocks Ready to Pay You More Without further ado, here's a look at this week's Rocket Stocks.