BALTIMORE ( Stockpickr) -- Mr. Market is showing off his rally-then-reverse abilities again this week, churning just under the 1225 level for the S&P 500. But for investors who haven't been made seasick by that constant up and down, it's likely we'll see a more meaningful move in the near term. More on that in a minute.The lack of directional trading in stocks has been a real problem in the last couple of months. Coupled with volatility, that sideways churning has been hammering both longs and shorts lately. While earnings have been mostly better than expected so far this quarter, they've been mixed enough to prevent a more definite sentiment shift on Wall Street. That said, we're still waiting on more than 80% of the S&P to report their third-quarter numbers right now. Those earnings will have a big impact on investors' risk appetites as we approach the end of 2011. >>5 Hated Stocks That Could Blast Off In the meantime, there are still trades to be made in October. On an individual basis, technical trades are starting to spring up in some of Wall Street's biggest names. In case you're new to technical analysis, here's the executive summary: Technicals are a study of the market itself. Since the market is ultimately the only mechanism that determines a stock's price, technicals are a valuable tool even in the roughest of trading conditions. Technical charts are used every day by proprietary trading floors, Wall Street's biggest financial firms, and individual investors to get an edge on the market. And research shows that skilled technical traders can bank gains as much as 90% of the time. Every week, we take an in-depth look at large-cap stocks that are telling important technical stories. Here's this week's look at the technicals of five must-see stocks.