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Stockpickr) -- Sure enough, stocks are bouncing in a big way in September.
Last week, in this column, the picture looked pretty clear: the
S&P 500 was setting up for a bounce off of the trend line that's acted like a floor for shares since all the way back in November. And now, we're getting pretty strong confirmation that buyers are jumping into the market again. The August correction is very broken at this point, and the S&P is just 1.3% away from the all-time highs the big index set more than a month ago.
New month, new market indeed.
As strong as the situation looks in the broad market, it's even more tradable in a handful of individual names this week. That's why today, we're taking a technical look at five of them.
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.
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.