BALTIMORE ( Stockpickr) -- Markets finally corrected this week. Hallelujah!
If not for the past three days' sideways slug, we'd be nearing the nine-day win streak record set back in 2004. That's not a record that investors should be shooting for. To be clear, as far as I'm concerned, achieving nine straight up days is pretty meaningless. It's irrelevant how many sessions a big move is cut into; the amplitude of the move is way more important.
But big win streaks are a distraction for retail investors. And they're the kind of moves that beget overcorrections in momentum. That's why this week's breather is a very healthy thing for this rally to continue.>>Beat the S&P With 5 Stocks Wall Street Hates And right now, there's no reason to think that the S&P 500 will do anything other than move higher. The big index keeps making higher lows and highs; it's a textbook uptrend, even if it's been a little trickier to trade lately. That's why we're taking a technical look at the big trades setting up in some of Wall Street's biggest names. If you're new to technical analysis, here's the executive summary. >>5 Rocket Stocks Ready for Blastoff in July 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 this week. >>5 Stocks Poised for Breakouts
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