With AutoCAD 2011 they introduced the selection cycling tool which is very helpful and I have posted about it here. There are times, however, when it is annoying. Take for example when you are simply zoomed out of a drawing and you do not have objects that are “overlapping” yet because the SC toggle is turned on, the blue icon appears next to your cursor as if there are stacked objects.
Luckily there is another way
Here’s how:
- Hold the Shift button and then the Spacebar
- place your cursor over the overlapping objects and left click
- Notice the command line will say <Cycling on>
- Left click to cycle through the stacked objects
- When the desired object is highlighted hit <enter> to select it
AutoCAD Tips 
If you are an old-school CAD User (like myself), you can set the system variable LEGACYCTRLPICK to a value of 1, and instead of holding down the ‘Shift’ key and spacebar on your keyboard, you can just hold down the Ctrl key instead