Chartology: Is the Next Leg Higher or Lower

Encouraging results from health care giant Johnson & Johnson and materials companies including Steel Dynamics lifted stocks on Tuesday.

However the optimism was counterbalanced by concern after yet another earnings report suggested that financials still face considerable headwinds.

And this time the weakness came from from the venerable money maker Goldman Sachs.

Considering the uncertain environment, investors were reluctant to make big bets ahead of the deluge of earnings reports coming later this week and next week.

What should you expect from the market? Seems like a good time to check the charts. Get all the details from Oppenheimer’s Carter Worth. Watch the video now!

______________________________________________________
Got something to to say? Send us an e-mail at [e-mail] and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send those e-mails to [e-mail].

Trader disclosure: On April 12, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Karabell owns (AAPL); Karabell owns (BIDU); Karabell owns (GOOG); Karabell owns (MRVL); Karabell owns (SINA); Finerman and Finerman's Firm own (AAPL); Finerman and Finerman's Firm own (BP); Finerman owns (C); Finerman and Finerman's Firm own (CVS); Finerman's Firm owns (HPQ); Finerman's Firm is short (IBM) calls; Finerman's Firm owns (JPM), is long (JPM) leaps; Finerman owns (JPM); Finerman and Finerman's firm owns (MSFT); Finerman's firm owns (TGT); Finerman owns (UNG); Finreman owns (USO); Finerman's Firm is short (IWM), (MDY), (SPY); Finerman's Firm is long S&P 500 puts; Finermna's Firm is long Russell 200 Puts; Terranova Owns (VRTS); Terranova Owns (JPM); Terranova Owns (V); Terranova Owns (BX); Terranova Owns (UPL); Terranova Owns (HOC); Terranova Owns (TCK); Terranova Owns (BAX); Terranova Owns (OXY); Terranova Owns (XOM); Terranova Owns (AKAM);

For Zachary Karabell
River Twice Capital owns (DD)
River Twice Capital owns (EXPE)
River Twice Capital owns (GS)
River Twice Capital is short (HOG)
River Twice Capital owns (KKR)
River Twice Capital and Karabell own (MON)
River Twice Capital is short (QQQQ)
River Twice Capital owns (QCOM)|
River Twice Capital and Karabell own (POT)
River Twice Capital is short (SPY)
River Twice Capital is short (XLF)

For Mark Schoenebaum
ISI Does And Seeks To Do Business With (AMGN), (GILD), (BIIB), (CELG), (HGSI), (UTHR), Has Recieved Non-Investment Banking Compensation In The Past 12 Months

For Anthony Scaramucci
SkyBridge Is A Fund Of Funds Manager
Funds Held May Or May Not Own The Recommended Securities

For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (CCG)
Virtus Investment Partners Owns More Than 1% Of (CASS)
Virtus Investment Partners Owns More Than 1% Of (CSVI)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (FCFS)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (KRC)
Virtus Investment Partners Owns More Than 1% Of (LDR)
Virtus Investment Partners Owns More Than 1% Of (NCRI)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (XLE)
Virtus Investment Partners Owns More Than 1% Of (XLF)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLK)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (WDFC)
Virtus Investment Partners Owns More Than 1% Of (YDNT)
Virtus Investment Partners Owns More Than 1% Of DOMINO'S PIZZA UK & IRL PLC

For Brian Stutland
*No Disclosures

For Carter Worth
*No Disclosures

CNBC.com with wires