The stock market needs a significant pullback, and chart analyses suggest that it could be coming soon, technician Carter Worth of Oppenheimer said Monday.
"We need a correction that needs things healthy," he said. "Five percent doesn't do it."
Worth made the case in June that stocks would to head 3 to 5 percent lower.
(Read more: Deeper Stock Sell-Off Ahead: Carter Worth)
The S&P 500 closed at 1,685.33, down 0.37 percent, and the Dow Jones Industrial Average declined 0.24 percent to close at 15,521.97.
On CNBC's "Fast Money," Worth noted that the S&P 500 had been trading upward within a range, with a breakout to the upside on May 3 and a dip below on June 20.