The big S&P 500 index hit new all-time highs last week, edging slightly above the previous high-water mark that was set back on March 1. That milestone may be a relatively small one, but it's sending a very important message to investors in 2017: The uptrend is back on.

After a two-month stretch of sideways price action, May is bringing back higher market highs. And, while the market inches its way higher this month, some of the individual stocks that make up those big stock indices are doing substantially better.

To figure out which stocks to buy this week, we're turning to a new set of "Rocket Stocks" worth owning.

In case you're not familiar, Rocket Stocks are our list of companies with short-term gain catalysts and longer-term growth potential. To find them, I run a weekly quantitative screen that seeks out stocks with a combination of analyst upgrades and positive earnings surprises to identify rising analyst expectations, a bullish signal for stocks in any market. After all, where analysts' expectations are increasing, institutional cash often follows. In the last 399 weeks, our weekly list of plays has outperformed the S&P 500's record-breaking run by 79.07%.

Jim Cramer talks about oversold retail stocks on Real Money. Get his insights or analysis with a free trial subscription to Real Money.

So, without further ado, here's a look at this week's Rocket Stocks.

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