) -- It's been a boring week for the broad market. Since Monday's open, the
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.
>>5 Stocks Warren Buffett Is Buying in 2013
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.
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
, 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