Updated with comments from Jim Cramer.
During the central bank's news conference yesterday afternoon, Fed boss Janet Yellen said that jobs improvement was a big factor in deciding that the economy can handle a gradual interest rate hike starting this year.
Don't hold your breath. The Fed isn't in agreement on when it will be appropriate to raise rates. Still, investors reacted by hitting the buy button, pushing all three of the big stock market averages back around where they started when the market opened.
Investors have been wringing their hands about the Fed's next move all week long. So now, with the big riddle solved (at least in the near-term), it makes sense to revisit some big breakout trades that have been heating up in recent weeks.
To do that, we're turning to the charts for a technical take on five of Wall Street's biggest stocks.
First, a little on the technical toolbox we're using here. Technical analysis is 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 big stocks to trade.