By Roberto Pedone WINDERMERE, Fla. ( Stockpickr) -- Technical analysis can be a great asset to investors who want to determine what the trend of the market or a stock is before they throw down hard-earned money. Consulting the charts can help you spot important market action before it happens, preparing you to follow the trend and make the right trade.Technical analysis is a method of evaluating securities by relying on the assumption that market data, such as charts of price and volume, can help to predict future market trends. Technical analysis will help guide you to discovering the chart patterns that offer the highest probability of success. For instance, if the market is on the verge of a major move, you'll be prepared to participate in that move, whether it's up or down. Market players who use technical analysis are watching the S&P 500 very closely right now because the major average is trading right around its 200-day moving average of 1114.12. If the S&P 500 can manage to trade above the 200-day and then get above some near-term resistance at around 1131.23, it could then set up to test 1173.57. However, a failure to trade above the 200-day moving average could set up a very sharp move lower. Here's a look at some compelling charts that are piquing the interest of the Stockpickr community.