BALTIMORE ( Stockpickr) -- We've had a pretty innocuous week so far in the markets, the big indices adding a few dozen basis points between Monday's open and Wednesday's close. All the while, stocks sit within striking distance of fresh all-time highs.
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Now seems like a good time to point out the fact that the S&P 500 has been a pretty poor proxy for "the stock market" in 2014 (and so have the other big stock indices, for that matter). Sure, it's been a strong year for the S&P: the index is up 10.8% since January. But more than a third of the S&P's performance this year has come from just ten stocks. Put simply, many of the biggest stocks on the market are showing very different price action this fall.
And that's providing us with a handful of trading opportunities in some of Wall Street's biggest names.
So today, we'll take a technical look at five large-cap stocks to trade for gains…
First, a little on the technical toolbox we're using here: technicals are a study of the market itself. Since the market is ultimately the only mechanism that determines a stock's price, technical analysis is 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.
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Every week, I take an in-depth look at big names that are telling important technical stories. Here's this week's look at five big stocks to trade this week.