Must-See Charts: Still Time to Buy These 5 Stocks
BALTIMORE (Stockpickr) -- A measly 4 points -- that's all that stands in between the S&P 500's closing price yesterday and new all-time highs.
That's not the surprising part, though. The S&P has been flirting with new highs for much of 2014. Instead, the surprising part is the fact that Fed Chair Janet Yellen helped to close that gap following her statements yesterday afternoon. Normally, the Fed is better at crashing the market than helping it on, but it helped that the central bank didn't sneak any surprises in their meeting minutes.
Read More: Warren Buffett's Top 10 Dividend StocksThe Fed reaction is only part of the story, of course. A more important factor in the S&P's long-term rally has been its technical picture -- and the fact remains that the big indices have been extremely technically obedient this year. Even better, that predictable price action is setting the stage for even bigger move in some of Wall Street's largest names. So today, we're taking 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. Read More: 5 Rocket Stocks to Buy for Gains This Week