BALTIMORE (Stockpickr) -- Earnings season continues to make a serious impact on market action this morning, as traders absorb quarterly releases from major financial firms Goldman Sachs (GS), Bank of New York Mellon (BK) and Wells Fargo (WFC) from before the bell. The overall tone of those earnings will play a major part in picking the market's direction this morning.
And right off the bat those earnings look a bit tepid, particularly compared with the blockbuster quarter seen at peer JPMorgan Chase (JPM), which bested earnings expectations on Friday.
But while investors try to figure out what to do in this fickle market, we'll take action once again with three new technical setups for the week.
Related: Rocket Stocks for the WeekRemember, technical analysis is a way for investors to quantify qualitative factors, such as investor psychology, based on a stock's chart patterns 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. Here's a look at this week's potential trades.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV