BALTIMORE (Stockpickr) -- The market was predictably calm in yesterday's trading, a sign that the market is waiting in anticipation of more "headline worthy" economic news today and tomorrow. That said, things aren't completely silent for market participants right now. With bearish pressure weighing on banking stocks, it's clear that investors are willing to sell now and ask questions later with respect to the financials (more on that in a few).While bets against such a broad sector ultimately left major indices down for the day yesterday, there's a lot more to the market than meets the eye right now, with interesting technicals setting up in some of Wall Street's biggest stocks. >>>Also: Cash In on This High-Yield Financial Firm Technical analysis uses a stock's price movements to determine where shares are headed in the future. Technical charts are used daily by proprietary trading floors, the Street's biggest financial firms and individual investors to get an edge on the market. And according to some sources, skilled technical traders can bank gains as much as 90% of the time. Wondering how some of Wall Street's biggest names are shaping up right now? Let's take a technical look. >>>Also: Technical Setups: Illumina, LDK Solar, Edison
Although Apple ( AAPL) has been a Wall Street darling in recent years, traders have come to learn that this stock isn't infallible -- particularly given the cyclical nature of technology firms. With so much attention on one stock, it's no surprise that millions of investors are wondering where shares of Apple are headed. So what do the technicals tell us?
2010 continues to be an interesting year for BP ( BP), the beleaguered oil company that became infamous for the Deepwater Horizon disaster, which killed 11 of the rig's crew and caused billions of dollars in damages to the Gulf Coast.
For a play in the other direction, let's divert our attention to those battered banking stocks.
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