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Chartology: Where To Make Plays In This Market

Despite the bad economic news of the day, the bulls were everywhere on the market. Could the reason for this lie in the charts?

To explain, Carter Worth, Chief Market Technician at Oppenheimer Asset Management takes a deep dive into the charts, which includes analysis of the technical levels the S&P 500 has been dabbling with in recent days. For Carter's full analysis, what to expect from the market and specific names to watch, check out the video!



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Trader disclosure: On Aug. 13th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Najarian Owns (FCX), Owns (FCX) Puts, Is Short (FCX) Calls, Owns (MS) And Is Short (MS) Calls, Owns (MSFT), Is Short (MSFT) Calls, Owns (MSFT) Puts, Owns (WFC) Put Spread, Owns (YHOO) Call Spread, Is Long (AMGN) September, Is Short (AMGN) August; Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY), Finerman's Firm And Finerman Own (BAC) Preferred Shares, Finerman Owns (BAC), Finerman's Firm Owns (MSFT), Finerman's Firm Is Short (USO), Finerman's Firm Owns (WFC) Preferred Shares And Is Short (WFC), Finerman Owns (WFC) Preferred Shares, Finerman's Firm Owns (WMT); Terranova Owns (KBH) Puts, Terranova Owns (MSFT), (AMZN), (CAT) Puts, (FCX) Puts, Terranova Is Short (AVB), Terranova Works For (VRTS)

Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO

Virtus Diversifier PHOLIO Owns (IGE)
Virtus Diversifier PHOLIO Owns (DBC)
Virtus Diversifier PHOLIO Owns (DBV)
Virtus Investment Partners Owns More Than 1% Of (ABD)
Virtus Investment Partners Owns More Than 1% Of (CAL)
Virtus Investment Partners Owns More Than 1% Of (DLR)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (DBC)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (SKT)
Virtus Investment Partners Owns More Than 1% Of (TNB)
Virtus Investment Partners Owns More Than 1% Of (UA)
Virtus Investment Partners Owns More Than 1% Of (CLB)

STACEY GILBERT Susquehanna Capital Group Is A Market Maker In (PCLN)
Susquehanna Capital Group And/Or Affiliates Owns 1% Or More Of (PLCN)

DENNIS GARTMAN CIBC Gartman Index Owns (AAPL)


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