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Fast Money

Should you trust this market bounce?

Stocks not oversold ... yet: Pro

The markets enjoyed a day in the green after a rough three-day slide, but should put your hopes in Tuesday's bounce or are we headed lower?

Right now the S&P 500 is down just slightly for the year, the Dow has fallen 2 percent and the Nasdaq has dropped 1.5 percent. Of course, the slight sell-off is nothing compared to last year's monster gains.

Chris Verrone, head of technical analysis at Strategas, said on CNBC's "Fast Money" that investors shouldn't be worried.

"In midterm election years, the majority of your gains actually come in just the last 12 weeks of the year. We think we trade sideways through the summer, set a good low as we move into September, and ultimately the bulk of this year's gains are found in that last quarter."

According to Verrone, it looks like investors will have to wait until the second half of the year to really enjoy another long-term rally.