BALTIMORE (Stockpickr) -- Stocks are playing hard to get as we edge closer to the end of another week of January trading. So far this year, stocks have moved a whopping 0.21% lower. The "January Effect" this ain't.
But make no mistake, just because stocks are taking a breather doesn't mean that this bull market is over. Far from it. From a technical standpoint, we're due for a healthy correction in the big indices right now, and the stats favor a double-digit performance in 2014 after the rip-roaring rally that stocks gave us last year. So now it's just a matter of picking the right stocks.
To do that, we're taking a technical look at five of the biggest names on Wall Street this week.If you're new to technical analysis, here's the executive summary. >>5 Rocket Stocks to Buy for Repeat Gains in 2014 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.
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