BALTIMORE (Stockpickr) -- The big stock indices rung the bell at new closing highs yesterday, and they're pointing towards more of the same today. U.S. markets have basically been in straight up mode for the last three weeks now, rallying a whopping 9.4% since the middle of October.
And stocks are pointed slightly higher this morning…
Not that there's anything wrong with that. Many folks don't realize that new highs are Mr. Market's "normal mode" -- since 1982, almost half of all S&P 500 trading sessions have closed within 5% of all-time highs. That number even factors in huge market declines like 2008. Put simply, this market momentum isn't likely to want anytime soon.
But the market can be beaten. To do that, we're taking a technical look at five breakout trades to grab for gains this week.
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.
Must Read: Sell These 5 Stocks Before It's Too Late