BALTIMORE (Stockpickr) -- U.S. markets corrected hard yesterday, the S&P 500 shedding 1.64% between the opening and closing bells. That marks the worst session for stocks in nearly two months, and enough to shove the big index back into single-digit gains for 2014.
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More important, it's enough to make stock investors nervous as the year flips to a close.
The good news is that this week's correction doesn't look like a sign of what's to come in 2015. The S&P has traded in a very well-defined range all year long, and with the bit index pressing against the top of its price channel, a correction was overdue heading into December. There's no question that this is still very much a "buy-the-dips market."
To take full advantage of that bullish bent to stocks over the longer-term, we're taking a closer technical look at five big 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.
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.
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