WINDERMERE, Fla. (Stockpickr) -- U.S. equities continue to struggle in Friday's trading session due to the unresolved U.S. debt crisis. Traders are gun-shy ahead of next Tuesday's deadline for lawmakers to raise the debt ceiling in an attempt to void the country's defaulting its debt for the first time in history.This market action puts stocks on pace for the sharpest weekly decline in a year. Traders are fearful that a loss of the country's triple-A credit rating could roil credit and bond markets around the world. The Dow Jones Industrial Average has dropped 484 points during its five-day losing streak that started last Friday. In midday action, the Dow was down about 60 points at 12,182, and the S&P 500 had shed about 5 points to 1296. The tech-heavy Nasdaq was down by about 3 points to 2763. Instead of focusing on the news, it's a far better exercise to focus on the charts of the three major U.S. indices. All three are trading very close to or right at their 200-day moving averages, an area at which markets often find buying support as long as the level holds. If we do get a debt deal in the coming days, then the market could see a strong bounce to the upside from here. Related: 5 Big Stocks to Trade for Gains Understand that the markets could blow through the 200-day prices first before a bounce if we do see a debt deal. It's often speculated that market makers will run key technical stops before a big reversal move in the markets, to force retail traders out of their positions. The bottom line: Be prepared to trade the market around and off of the 200-day moving averages since this is a technical level that large traders watch like hawks. Keeping in mind that the moving averages reset daily, today's levels are 11,978 for the Dow, 1284 for the S&P and 2705 for the Nasdaq. No matter what the overall market is doing, there are always stocks that are breaking out and trending higher. The top traders in the world know that markets are made up of thousands of stocks and tons of sectors. With so many moving parts, there's always some sector or stock that's acting strong and doing its own thing. Here's a look at a number of stocks that look poised to break out and trade higher from current levels.
Heartland Payment Systems
Goldman Sachs Group
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