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Chartology with Mary Ann Bartels

In the wake of Tuesday’s triple digit sell off, the Fast traders pause to look at the technicals.

What should you be watching?

Mary Ann Bartels, Bank of America Merrill Lynch head of U.S. Technical Analysis tells us 1270 is a key level on the S&P. "I think we can come down and test it, the question is whether it holds or not."

And if not, ”then we’re looking at 1220 to 1170,” she counsels.

But what determines if the market holds or if it folds? That's the billion dollar question.

According to Bartels, “the fate of the stock market lies in the hands of oil .”

And despite all the chatter you’ve heard about $100, Bartels suggests that's more of a psychological level, than anything else. According to the charts, what really matters is $103.

“That’s an important Fionacci level,” she explains. If we break above that level it opens the door to test the 2008 high of $147.

Get all the details. Watch the video now!




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Trader disclosure: On March 1, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour owns (AAPL); Seymour owns (BAC); Seymour owns (F); Seymour owns (GE); Seymour's firm owns (TTM); Seymour's firm is short (FCX); Seymour's firm is short (POT); Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Adami's wife works for (MRK); Terranova owns (VRTS); Terranova owns (C); Terranova owns (UPL); Terranova owns (ABT); Terranova owns (MS); Terranova owns (PBR); Terranova owns (BAX); Terranova owns (TEVA); Terranova owns (CVI); Terranova owns (RSX); Terranova owns (SU); Terranova owns (CNQ); Pete Najarian owns (AKS) call spreads; Pete Najarian owns (CNI); Pete Najarian owns (DAL) calls; Pete Najarian owns (DOW) calls; Pete Najarian owns (SA); Pete Najarian owns (GG) call spreads; Pete Najarian owns (TEVA); Pete Najarian owns (PFE); Pete Najarian owns (TCK); Pete Najarian owns (C); Pete Najarian owns (BAC) calls; Pete Najarian owns (F) calls; Pete Najarian owns (GE); Pete Najarian owns (JPM) call spreads; Pete Najarian owns (MS); Pete Najarian owns (MU) calls; Weiss owns (BTU); Weiss owns (AAPL); Weiss owns (FAS); Weiss owns (MEE); Weiss owns (JPM); Weiss owns (HBAN); Weiss owns (VZ); Weiss owns (QCOM); Weiss owns (AGU); Weiss is short (X); Weiss owns S&P puts

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