The numbers are in.
February's jobs report added 313,000 jobs, a hiring spree that makes last month the strongest month for job adds since mid 2016. That also marks a record 89th straight month of positive job gains.
Mr. Market is ending the week on a high note in reaction to the jobs numbers -- all three of the big market indices are up around 1% in Friday's session as of this writing, putting the S&P 500 within just 3.6% of all-time highs and totally erasing February's market correction.
Simply put, the bulls are back in charge.
And, not surprisingly, that means that a handful of big-name trades are heating up as buying opportunities on the heels of the jobs release. To figure out how to trade them, we're turning to the charts for a technical look.
Wynn Resorts Ltd.
Leading things off is casino resort operator Wynn Resorts (WYNN) . After getting hit with a one-two punch of a market correction and a sexual misconduct scandal involving founder Steve Wynn, investors are finally getting a signal that shares are back in play.
Thing is, the buy signal is actually being driven by a technical trend that's been in place for the entire last year.
A bounce off of Wynn's long-term uptrend is triggering upside in shares, as this stock tests that key level for the fifth time in the past 12 months. Shares are up more than 5% this afternoon as Wynn re-tests prior highs around the $200 level.
Bank of America
Bank of America (BAC) is looking bullish here. This $335 billion banking stock is currently forming a textbook example of an ascending triangle pattern, a bullish continuation setup that signals the potential for more upside ahead. For Bank of America, the key level to watch is prior resistance at $32.50, a breakout level that's being tested in today's trading session.
Put simply, if BofA can manage to hold above that $32.50 level through the close and into Monday's open, we've got a clear signal that buyers are still in control of shares and that it's time to join them. Stay tuned.
A similar price trajectory is setting up in shares of Microsoft Corp. (MSFT) .
Like Bank of America, Microsoft is currently testing breakout territory after forming a (slightly less textbook) ascending triangle pattern. For Microsoft, the key level to watch is resistance up at the $96 level - shares have failed to push through $96 on their previous two attempts in 2018, and a successful breakout here would trigger a key buy signal in shares.
Ford Motor Co.
2018 has been a tough year for shares of Ford Motor Co. (F) .
Ford has shed around 15% of its market value since the calendar flipped to January, underperforming the rest of the broad market by a big margin. But that underperformance could finally be about to end here. Ford is looking "bottomy" in the long-term.
Ford is showing off a pretty textbook example of a double bottom pattern, a bullish reversal setup that triggers a buy with a breakout through $11 resistance. Ford's underperformance could actually be an asset for investors right now; as a mean reversion trade, the size of the downside move leading into Ford's double-bottom pattern gives it more room to run higher before becoming overbought.
SPDR Financial Select Sector ETF
Finally, we're seeing a pretty textbook upside signal in one of the most popular ETFs on the market: the SPDR Financial Select Sector ETF (XLF) .
XLF is currently forming a symmetrical triangle, a bullish continuation pattern that's formed by a pair of trendlines converging at approximately the same rate. A continuation pattern is a welcome sight in XLF; this ETF has charged more than 23% higher since September's lows, so the prospect of another leg higher from here could open the door to meaningful upside territory for investors.
XLF is testing a breakout above the $29.50 level that currently defines the upper trendline. A push above February's high water mark at $29.56 is good enough for a buy signal at this point.