BALTIMORE ( Stockpickr) -- The economic calendar continues to have a hold on the markets this week as earnings season continues on full-bore and considerable news gets digested by Wall Street.
This week, the typical key economic numbers such as manufacturing data, housing, commodity inventories and inflation metrics will continue to be in play. So too will Fed Chairman Bernanke's testimony before Congress on Thursday morning (and other Fed presentations spread throughout the week).
But while uncertainty is still in the market right now, the technical outlook of the broad market still looks strong. The S&P 500 has gained nearly 6% year-to-date, and comparable indexes have rallied in kind. With multiyear highs in equities right now, several support levels acting as downside protection, there's plenty of reason to expect continued heights for stocks.
That's why it's such a crucial time to take a look at three promising new technical setups that could trigger trading this month.Related: Understanding Fibonacci Levels Remember, 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.
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