BALTIMORE (Stockpickr) -- It's been a boring week for the broad market. Since Monday's open, the S&P 500 has managed to budge a whopping 0.31%. But while the S&P's price action may not be particularly exciting, the big index is still in make-or-break mode this week.
That's right, after correcting 3.7% from all-time highs, the S&P is sitting right above its trendline support level this morning. And despite the growing volume of the growls being thrown around by the bears right now, that's a bullish signal. Looking back over the course of this long-term rally, being a buyer at support would have been a lucrative trade all the way up.
So as the S&P sits just above its trendline for an eighth time now, investors should be getting ready to hit the "buy" button -- not the sell button. Caveat venditor.That's why we're taking a closer look at the technical trades shaping up in five of Wall Street's biggest names this week. After all, while the major averages have posted pretty boring performance lately, there's some major movement going on in individual stocks. >>5 Toxic Stocks You Should Sell 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. >>5 Stocks Under $10 Hedge Funds Love 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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
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
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV