BALTIMORE ( Stockpickr) -- Perspective matters a lot in the markets. The 1.05% drop in the markets yesterday feels like a real gut punch for equity investors, for instance, but it wasn't long ago that a 1% red day was a pretty typical down move. This week, it feels like an indictment on the market, but 15 months ago, it was just noise.
Make no mistake -- the weak hands are getting tested in April after new all-time highs in the S&P 500 sent investors questioning whether it still makes sense to own stocks. There's a big shift taking place right now among investors -- it's a question of what's scarier: seeing stocks drop from here, or missing out on a rally that most retail (and institutional) investors haven't fully participated in.
So while investors should certainly be thinking about the potential of a correction, things still look very bullish indeed from both a technical and fundamental standpoint. We're still in a stock-picker's market by and large, and that means that there are still important setups coming together in some of the most heavily traded names on Wall Street. Today, we'll take a technical look at five of them.If you're new to technical analysis, here's the executive summary. >>5 Stocks Poised for Breakouts 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. >>5 Toxic Stocks You Should Sell in April
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts