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Carter Worth: Market Looks "Ominous"

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The market’s recent weakness, all the more evident after Thursday afternoon’s late-day sell-off, is an “ominous” picture of things to come, Oppenheimer Chief Market Technician Carter Worth said on CNBC's Closing Bell.

What is particularly worrying, Worth said, is that the market’s leaders – namely tech and energy – are broken. Although the major players in the tech sector such as Apple (AAPL), Research In Motion (RIMM) and Google (GOOG) started selling off a week ago, Worth still expects anywhere from another 10% to 20% decline in those names.

Tuesday’s 320-point rally “kept the seduction alive,” Worth said, but the broader market looks closer to a top than a bottom.




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