BALTIMORE ( Stockpickr) -- A few months ago, who'd have thought that a rally in European stocks would be threatened by the political process here at home? It's supposed to be the other way around!
But sure enough, big European stocks are pushing up against 2012 highs this week as the political horse-trading on Capitol Hill continues to get ugly. At this rate, neither party is going to be making Santa's "nice list" this Christmas. But despite the politicking that's grabbing the headlines, things are still looking productive on Wall Street right now.
The S&P 500 has already retraced half of its correction from the last couple of months, a positive sign now that the big index sits within eyeshot of its own high water mark from earlier this Fall. Between the fundamental factors and the technicals we're seeing right now, there's reason to feel good about being an investor again.That's why we're taking a technical look at five big names that are tradable this week. If you're new to technical analysis, here's the executive summary. Technicals are 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. >>5 "Magic Formula" Stocks for 2013 Every week, I take an in-depth look at big names that are telling important technical stories. Here's this week's look at the charts of five high-volume stocks to trade for gains.