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5 Technical Trades to Grab Summer Gains

BALTIMORE ( Stockpickr) -- With the first official day of summer under way, should we expect more of the "summer doldrums" that have rocked the market this month? Early signs point to no.

After what I'd only describe as a train wreck start to June, stocks are finally starting to show some semblance of support to end the month. June started off with one of the worst selling streaks we've seen in years, reversing nearly all of the market's hard-earned gains in 2011. The S&P 500 slammed into the 200-day moving average, a price that coincides with that very same secular trend line support level that we've been watching for the last few weeks.

It's clear that the market was painfully oversold into the end of last week. That said, traders shouldn't underestimate the strength of demand below the S&P's trend line support level. What's the best way to parlay that sort of strength into gains right now? Let's look at a handful of promising technical setups to find out.

Related: 2 Pair Trades for an Uncertain Market

Remember, technical analysis is a way for investors to quantify qualitative factors, such as investor psychology, based on a stock's price action 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 setups.
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