BALTIMORE ( Stockpickr) -- Wait, the stock market isn't going to zero this month?
That's the question that investors seem to be asking this morning as Mr. Market bounces higher off of what's been a sharp correction in the
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Certainly, some big things have happened to stocks in the past week. On Tuesday, the S&P got shoved hard below the bottom of the trend channel that
I pointed out last week
. No, that's not a great sign for buyers -- and in fact, it's a good sell signal for traders who look toward the very short-term.
For 99% of investors, though, the primary trend is what matters. And the primary trend in the S&P 500 is still unquestionably up.
Right now, the S&P is approaching important support at 1400; that means that stocks are likely to find buyers at these price levels. So, with the broad market coming up on an important inflection point, it makes sense to take a technical look at five big names that are tradable this week.
If you're new to
, here's the executive summary.
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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, I take an in-depth look at big names that are telling important technical stories. Here's this week's look at the charts of
five high-volume stocks to trade for gains