The Dow Jones Industrial Average is inching higher since reaching a 4-month low one week ago. Was that the bottom of this sell-off or is this just a bounce before an even bigger slide?
Carter Worth is Chief Market Technician for Oppenheimer & Co and he joins the panel.
Worth explains there’s chatter that the market will retest its lows. He believes that every day the market holds up – the likelihood of that happening decreases.
Guy Adami believes the market will “chop around” – but he thinks the next 500 points will be to the upside.
Pete Najarian isn’t sure if the market has hit a bottom, he suggests the market will test lows one more time.
Jeff Macke is a skeptic. He thinks the market is going lower.
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Trader disclosure: On Aug 23 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money; Macke Owns (DIS), (ATVI), (HAS); Najarian Owns (GS) Puts; Najarian Owns S&P Puts; Oppenheimer & Co. Inc. Is A Market Maker In (MRVL)