BALTIMORE (Stockpickr) -- Typically, summer is the time of the year when Mr. Market hits the snooze button -- "summer doldrums," they call them. But as summer 2014 fast approaches, this year could bring a change in the market's normal M.O.
After all, we've been grinding through "spring doldrums" for the last couple of months, with major indices such as the S&P 500 and the Dow Jones Industrial Average slugging it out sideways amid very low volatility. And as the sideways churn drags on for a third month, we're ticking closer to a return to more directional trading this summer.
Why the change of pace? It's the individual stocks that make the market and right now, some of Wall Street's biggest names are leading the way with setups that are getting near a breakout. That's why we're taking a technical look at trading setups in five of Wall Street's biggest stocks today.If you're new to technical analysis, here's the executive summary. >>Hedge Funds Hate These 5 Stocks -- Should You? 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.