BALTIMORE (Stockpickr) --The broad market is shoving its way higher today, carving out larger gains for the first month of 2012. Already this year, the S&P 500 has rallied more than 3.19%, handily besting the flat performance of the whole calendar year 2011. And as traders continue to absorb positive earnings data, buying pressure continues to drive Mr. Market's price action.That's why it makes sense to take a look at the promising technical setups forming in a handful of stocks right now. 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.
Twitter and become a fan on Facebook. At the time of publication, author had no positions in stocks mentioned. Jonas Elmerraji, based out of Baltimore, is the editor and portfolio manager of the Rhino Stock Report, a free investment advisory that returned 15% in 2008. He is a contributor to numerous financial outlets, including Forbes and Investopedia , and has been featured in Investor's Business Daily , in Consumer's Digest and on MSNBC.com.