The technology-laced Nasdaq's out-performance of the S&P 500 Index may have some thinking that tech is expensive. However, one top technician says there are still gains to come, and he's identified two names that look like they could be ready to breakout in the second half.
Strategas Research Partners' Chris Verrone told CNBC's "Fast Money" last week that Facebook and Adobe are looking attractive from a technical perspective, and he would look to add to those two names on any pullback.
"In sideways markets we want to own leadership," said Verrone, who notes the relative strength of the social network and the software company. The shares of both have managed to trade above their 200-day moving averages the last two years, which Verrone said was a sign of long-term strength heading into the back half.