Large-cap technology stocks are coming back into vogue, and it's been a long time since traders have made bullish comments on them. These stocks, as well as the rest of the technology sector, have shown strong relative strength recently vs. the broader market.

The group as a whole has been through the wringer after the 2001 "tech wreck." Technology stocks have spent the last six years basing, and the sector now looks ready to emerge from the bottom and find new strength.

Most traders still have bad feelings toward the sector after the bear market, but this is an opportunity for investors to get in front of a bullish change and own these stocks as they reassert new primary uptrends.

The damage has been done, and the basing process is complete. Now is the time for the bulls to take back control of this sector and ride these names higher.

A great example of the newfound strength in the sector is

Texas Instruments

(TXN) - Get Report

. Texas Instruments is one of the largest semiconductor manufacturers in the world, and it's tied closely to the wireless sector. The company is known as "the


(INTC) - Get Report

of wireless chips" and dominates the global market along with


(QCOM) - Get Report


Texas Instruments

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Wireless communications has taken over as the growth engine for the technology sector. Personal computers have really been supplanted in importance by wireless equipment and services as an investment theme.

With that in mind, we need to look at the long-term chart for TXN. The stock broke down with the rest of the technology sector from 2001 through 2003, but since then, the stock has developed a large and well-defined base formation. Base formations like this develop when the bulls and the bears reach equilibrium on the stock and the shares essentially "churn." This churning process wears down the bears until everyone who wants to sell has gotten out of the stock, and the bulls are in a position to take control.

The recent breakout and consolidation from this base formation tells us that the bulls have indeed taken control of TXN, and the stock is ready to build a new primary uptrend. The $37 area is a good spot to get long shares of Texas Instruments, with a breakdown below support at $32 as a stop loss.

If investors want to be early and get in front of a significant new uptrend, then this is a great opportunity to do just that. Texas Instruments is poised to make a meaningful long-term change, as is the entire technology sector. Once a bullish theme or catalyst comes along, the bullish technical configurations in the sector should start to pay off.

Texas Instruments also makes its way into a Stockpickr portfolio, How to Play Global Growth. The premise is that the rise in global wealth is tethered to increased demand for durable goods (e.g. cell phones, cars, etc). The best way to play it is to find large-cap companies with significant ex-U.S. revenue like Tata (TTM) - Get Report, Toyota (TM) - Get Report, Qualcomm (QCOM) - Get Report, Hewlett-Packard (HPQ) - Get Report and Whirlpool( WHR.).

At the time of publication, John Hughes and Scott Maragioglio had no positions in the stocks mentioned. Hughes and Maragioglio co-founded Epiphany Equity Research, which has developed and utilizes proprietary tools to identify and track liquidity changes in the market indices and sectors. Hughes advises numerous asset managers, hedge funds and institutions managing in excess of $30 billion. Maragioglio is a member of the market technicians association (MTA) as well as The American Association of Professional Technical Analysts (AAPTA) and holds a Chartered Market Technician (CMT) designation. Maragioglio has also served on the board of directors of the AAPTA.