BALTIMORE ( Stockpickr) -- This market is all about milestones.
Two weeks ago, stocks nailed their biggest week of gains since 2009 -- and just yesterday, the broad market recorded the worst day in more than a month as the S&P 500 shed 1.81%. This morning, the market looks set to show us another rough session as concern over the spread of the eurozone debt crisis to Italy escalates.
Meanwhile, the market's being grossly mispriced. We've previously touched on last quarter's disconnect between corporate earnings and market performance -- but it looks like we're going to see another quarter of the same if yesterday's earnings season kickoff was any indication.
A perfect example of that market mispricing is the VIX S&P 500 Volatility Index. The VIX has actually fallen more than 16% since the start of the end-of-June rally that pushed stocks 5.6% higher. So while volatility has clearly increased in the market, investors are only pricing it in when the market turns bearish.Related: 4 Key Indicators for the Technical Trader's Toolbox Even though the stock market is a mess right now, there are still a slew of profitable trades popping up. The key to profit is turning to the technicals. 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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