BALTIMORE (Stockpickr) -- 2014 has been a good time to be a U.S. investor. Since the calendar flipped to January, the big S&P 500 has climbed more than 8.29%. That's why it may come as a surprise that you could be leaving money on the table if you're investing exclusively in domestic stocks.
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The S&P 500 isn't close to being the best-performing equity market this year. In fact, it's not even the best-performing market in the Americas (that trophy goes to Argentina's Merval Index, up 53% so far).
The biggest benefit of owning foreign stocks is that they often carry much lower correlations with the big U.S. indices. In other words, when domestic names are performing poorly, there's often a foreign market that's rallying. And better yet, they're easy to buy: There are thousands of ex-U.S. stocks that trade here on major U.S. exchanges.
So today, we're taking a closer technical look at five big foreign stocks to trade for gains.
For the unfamiliar, 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.
Without further ado, let's take a look at five technical setups worth trading now.