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S&P to rally toward 1,750: Technician

Chart analyses suggest clear directional movement in the S&P 500, energy and gold, Chris Verrone of Strategas said Monday.

"I think one of the most compelling features of this rally is still how broad-based it is at this point, and we've seen that with the new 52-week-high data, which remains been robust. We've seen that with all the advance/decline lines," he said. "Another way we like to look at it is what the equally weighted S&P 500 chart is doing."

On CNBC's "Fast Money," Verrone pointed to charts that showed new highs.

"That's reflective of small caps. That's reflective of mid caps," he said. "That's reflective of a broad-based rally, which we think takes this index to about 1,730, 1,750."

Verrone also noted upward action in few energy stocks.

Halliburton, he said, was a "buy" in the $43-44 range.

"We'd like to see a weekly close above $46," he added. "We think that can take you to $50, $52.

(Read more: S&P 500 heading toward 1,800: Strategist)

"Schlumberger, as we know, broke out. HP is another one that looks OK here, as well."

Verrone said that integrated names such as Exxon, Conoco and Chevron appeared strong.

Avoid refiners, he added, noting that they were "weak on a trend basis and don't have a lot of momentum."

On gold, Verrone said that the "present downtrend" remained intact.

(Read more: It's a 'stock-picking market,' Mike Murphy says)

"Historically, we've always found that when silver's lagging on the downside, it's generally not good for either metal, silver or gold," he said. "So, keep an eye on silver here for some direction or signal for what gold ultimately does."

By CNBC's Bruno J. Navarro. Follow him on Twitter @Bruno_J_Navarro.

CNBC's Michael Newberg contributed to this article.

Trader disclosure: On July 22, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: 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; Guy Adami's wife, Linda Snow, works at Merck; Dan Nathan is short BBRY 12/10 put spread; Dan Nathan is long QCOM Aug 65 calls; Dan Nathan is long VIX Aug 15/20/25 call fly ; Dan Nathan is long TXN Aug 38/36 put spread; Pete Najarian is long AAPL; Pete Najarian is long BAC; Pete Najarian is long NFLX; Pete Najarian is long OKE; Pete Najarian is long MU; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long BBRY; Anthony Scaramucci is long JPM; Anthony Scaramucci is long BBRY; Anthony Scaramucci is long MSFT; Anthony Scaramucci is long GOOG; Anthony Scaramucci is long AMZN; Anthony Scaramucci is long HPQ.

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HAL
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HP
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XOM
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COP
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CVX
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