‘Every Dip a Buying Opportunity’: Pro
The S&P 500 looks ready to post additional gains, Randy Frederick of Charles Schwab said Tuesday.
"Until we see major changes from the Fed, I think it's still, 'Every dip becomes a buying opportunity,'" he said.
On CNBC's "Fast Money," Frederick, who is director of Trading and Derivatives, pointed to a level of 1,665 as resistance in the S&P, with support at 1,636.
Consumer discretionary and industrials are Frederick's top sectors for the second half of 2013.
(Read More: One Bull's Big Stock Market Call)
Much of the reason for a bullish outlook has to do with improved consumer confidence, even with incomes slightly lower from the expiration of the temporary payroll tax cut, he added.
"People feel like they can spend money again," Frederick said.
(Read More: 'Bear Market Is Officially Dead': Pro)
Trader disclosure: On May 28, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Brian Kelly is long TLT; Brian Kelly is long TREASURIES COPPER BRAZIL; Brian Kelly is short STP FUTURES; Brian Kelly is short SPY; Dan Nathan is long JNJ; Dan Nathan is long IBM; Dan Nathan is long NFLX; Dan Nathan is short IWM; Josh Brown is long XLU; Josh Brown is long WMT; Josh Brown is long TGT; Josh Brown is long OXY; Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long MSFT; Guy Adami is long AGU; Guy Adami is long NUE; Guy Adami is long BTU; Wife, Linda Snow, works at Merck.