BALTIMORE ( Stockpickr) -- Last week's strong performance in stocks is being followed up by more of the same to kick start this week.Since last Monday, the S&P 500 has generated returns of 7.7% -- that's a massive string of wins considering the selling pressures that stocks have been under in August. Those swings indicate that volatility is still a significant factor to contend with right now. So are high correlations between the broad market and individual stocks. The CBOE S&P 500 Implied Correlation Index hit record levels earlier this month, which means that most stocks are trading in lockstep with the Mr. Market. Normally, that's a bad thing; it means that few contra-market trades are showing up out there. Now, with the S&P 500 breaking out above the technically significant 1,200 level, it might not be such a bad thing. This week, with bullish signs in stocks, we'll take a look at five technical setups that could provide breakout gains right now. Related: 5 Set to Fall on Earnings This Week Remember, technical analysis is a way for investors to quantify qualitative factors, such as investor psychology, based on a stock's price action and trends. Once the domain of cloistered trading teams on Wall Street, technicals can help top traders make consistently profitable trades and can aid fundamental investors in better planning their stock execution. Here's a look at this week's setups.