BALTIMORE (Stockpickr) -- The short week got off to a bullish start yesterday, as the S&P 500 put a little more distance in between its open and its close. That puts the big index just half a percentage point away from the all-time highs it made in January.
Not too shabby for a rally that no one believed in just a few weeks ago.
If lingering near highs sounds "toppy," don't worry too much. Since 1982, around half of all market sessions have ended within 5% of all-time highs. That means this recent "frothiness" isn't unsustainable; it's a return to normalcy. The fact of the matter is that despite the day-to-day chop of trading, equities are unquestionably in bull mode as I write.
To make the most of it, we're turning to our "buy list" with five stocks that look ready to make a technical move higher.
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.
Without further ado, let's take a look at five technical setups worth trading now.