5 Huge Stocks Ready to Slingshot Higher

BALTIMORE (Stockpickr) -- All traders needed was a day of burgers and beers on the Fourth of July to get back into buying mode this morning. Oh, and central bank intervention -- that helped too.

China offered markets a surprise rate cut, a move that got mirrored by the European Central Bank this morning as the ECB cut its own main interest rate to a historic low of 0.75%. The rate cuts are designed to help support floundering growth in China and speed recovery in the eurozone, where lowered cost of capital should help spur economic activity. That's why the moves are helping to push worldwide share prices higher this morning.

>>4 Stocks Set to Soar on Bullish Earnings

Like I said last week, higher ground in the S&P 500 shouldn't be a big surprise. The bear trade was getting too crowded to make sense, especially with technical and fundamental arguments piling up in favor of the bulls. Of course, that doesn't mean that Mr. Market's headed straight up from this point on, but it does significantly skew the outcomes in favor of buyers in July.

We're seeing that play out technically in a handful of the biggest stocks out there. Today, we'll take a look at how to trade these huge names.

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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 big names that are telling important technical stories. Here's this week's look at the technicals of five high-volume stocks ready to move higher.

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