The recent stock market advance has been a "relief rally" that may run out of steam, BTIG Chief Technical Strategist Katie Stockton said Tuesday.
"It is a countertrend rally at this point. We do have those lower highs and lower lows," she told CNBC's "Squawk Box," following a five-session winning streak for the S&P 500. The index, as of Monday's close of 2,001.76 , was up 8 percent since its most recent low on Feb. 11.
Looking at the S&P's 200-day moving average, Stockton said: "You can see it's rolled over" and facing "overhead resistance" to 2,025 with the "first major support is near 1,820."