BALTIMORE ( Stockpickr) -- The ice is melting in the beer coolers, and the grills covers are going back on -- at least for today. Wall Street still has another day of trading in the way of the weekend.
One consequence of this hacked-up trading week is low volume. After all, the Fourth of July is just as good a time for Wall Street traders to take a vacation as any holiday. So investors can expect that a good chunk of institutional trading volume is spending today in the Hamptons or some other vacation spot, not on the trading floor.
But that doesn't mean that there won't be big trades to be made today, especially as the S&P 500 teeters on the edge of another key level this week. That's why, today, we're taking a technical look at five critical charts.If you're new to technical analysis, here's the executive summary. >>5 Financial Stocks to Trade Now 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 five high-volume stocks to trade. >>5 Stocks With Big Insider Buying