Trader Mike Murphy, founder and managing partner at Rosecliff Capital, however sees the market a little differently. He's focused on technicals – and as the
S&P 500
advanced it broke above key levels of resistance. Murphy doesn't see any reason for that to stop. "Watch 1450, he said. If we break above 1450 I think the next stop is 1470."
Jon Najarian, co-founder OptionMonster.com, is also bullish. "Money is flowing into banks," he said. The financial sector had been the market's Achilles Heel. "I'm seeing unusually strong call buying in the sector," he added, implying that big money expects the sector to advance further. And if financials advance, Najarian believes the market will too.
Trader disclosure: On December 18, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders; Steve Weiss is long YUM; Steve Weiss is long QCOM; Steve Weiss is long HK; Steve Weiss is long BAC; Steve Weiss is long JPM; Steve Weiss is long C; Joe Terranova is long VRTS; Joe Terranova is long TJX; Joe Terranova is long AAPL; Joe Terranova is long YUM; Joe Terranova is long SWN; Joe Terranova is long GLW; Joe Terranova is long DELL; Joe Terranova is long VZ; Joe Terranova is long XOM; Mike Murphy is long AAPL; Mike Murphy is long TGT; Jon Najarian is long CME; Jon Najarian is long CBOE; Jon Najarian is long call spreads in AAPL; Jon Najarian is long call spreads in JPM; Jon Najarian is long call spreads in GS; Jon Najarian is long call spreads in FB; Jon Najarian is long call spreads in WFC; Jon Najarian is long call spreads in BAC; Jon Najarian is long call spreads in MS; Jon Najarian is long call spreads in ELN; Jon Najarian is long call spreads in APA; Jon Najarian is long call spreads in DVN; Jon Najarian is short puts in GLD; Jon Najarian is short puts in AGQ