The charts show more downside for the market ahead, with the S&P 500 possibly dropping to 1,800, technician Dan Fitzpatrick said Friday.
"Bottoms don't start at the top. We had a multiyear uptrend. It's been consolidating for most of the year. That's broken if you look at the S&P," the technical analyst for StockMarketMentor.com said in an interview with CNBC's "Closing Bell."
"The way the market's trading today, I'm kind of looking at the next leg down as being 1,800."
That said, he's not expecting a big crash, but just doesn't see the upside from here.
"Why would somebody come in and buy? I just don't see it. I'm not generally a bear but I'm objective, and that's what I see."