Charting Live on CNBC Fast Money
- Posted by JC Parets
- on May 7th, 2013
Here’s the clip from CNBC Fast Money on Tuesday.
This is about half of the segment. Click here for the whole thing. We get going at the 7:10 mark.
Bottom line – we like S&Ps above 1600. And for the market to keep rocking, we need Tech, Energy, Industrials and Materials to not only participate, but lead in terms of relative strength. These 4 underperforming sectors represent 40% of the S&P500. If that doesn’t happen, then I think we’re probably in for some trouble. But the action over the past couple of weeks might be an indication that this rotation could just be getting started.
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J.C. Parets is the Founder & President of Eagle Bay Capital, LLC. He earned the Chartered Market Technician designation (CMT) and is a member of the Market Technicians Association. More
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