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Top chart analyst: Next move is to the upside

Traders work on the floor of the New York Stock Exchange.
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Traders work on the floor of the New York Stock Exchange.

As the equity market struggles to find a direction, a top technical analyst believes the next move for stocks will be to the upside.

In an exclusive interview for CNBC Pro subscribers, Mark Newton, chief technical analyst at Greywolf Execution Partners, explained that recent oversold conditions may spark a rally in the days ahead.

Investor sentiment, for example, is reaching overly pessimistic levels, a metric that in the past coincided with market bottoms, Newton said.

Given the bullish seasonality associated with fourth quarter, here's where the technician is finding opportunities:

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