BALTIMORE (Stockpickr) -- The S&P 500 muscled its way above 2,000 for the first time ever on Monday, kicking down a conspicuous psychological barrier that's been on investors' minds in a big way in recent weeks.
So what's the significance of S&P 2,000?
Well, nothing really. It's just another number.
From a practical standpoint, the only notable difference between the S&P "up" at 2,000 and "down" at 1,999 is really just the number of zeros involved. And while I realize that's not the most exciting answer, the good news is that the latest big round-number target for the S&P didn't really need to matter anyway. We've been in a "buy-the-dips market" for the better part of the last two years, and more upside continues to look like the high-probability outcome from here. (We'll take a closer look at why that is in a moment.)
Better yet, the broad market's gains could be magnified in a handful of big individual names in the next month. So, to take full advantage of Mr. Market's rally mode, we're taking a technical look at five large-cap stocks to trade for gains this week.
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.