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5 Big Stocks to Trade for Gains

BALTIMORE ( Stockpickr) -- Sure enough, the three biggest fundamental drivers for the market this week are earnings, earnings and earnings.

All told, 91 S&P 500 stocks are slated to announce earnings this week - almost 20% of the broad market index. And of the 50 that have already reported numbers this earnings season, 41 have beaten analysts' expectations. Even so, momentum in the 2012 stock rally has been cooling since the start of April.

Those facts tell us two very important factors about the market right now: First, Wall Street is definitively underestimating corporate profits this quarter, and second, market prices are starting to fall out of synch with fundamentals.

>>5 Stocks Everyone Hates -- But You Should Love

So, with those fundamental drivers clearly not working like they should in April, it makes more sense than ever to take a technical look at how the biggest names on Wall Street are trading right now.

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.

Every week, we take an in-depth look at large-cap stocks that are telling important technical stories. Here's this week's look at the technicals of five must-see stocks.
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SYM TRADE IT LAST %CHG
ADI $58.99 1.90%
CHL $63.14 1.81%
MAT $23.06 -0.09%
PTR $99.23 4.27%
WMT $72.10 1.01%

Markets

Chart of I:DJI
DOW 17,630.27 +189.68 1.09%
S&P 500 2,093.25 +25.61 1.24%
NASDAQ 5,089.2060 +49.43 0.98%

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