'Fast Money' Recap: Searching for a Catalyst

NEW YORK (TheStreet) -- The markets took a breather Tuesday after the strong rally the day before.

The Dow Jones Industrial Average rose 20.03, or 0.20%, to 10,246.97, while the S&P 500 slipped 0.06, or 0.01%, to 1,093.01. The Nasdaq fell 2.98, or 0.14%, to 2,151.08.

Guy Adami said on CNBC's "Fast Money TV" show that the price action today was encouraging, although there was a lack of volume.

Tim Seymour said he's looking tonight for data on PMI, exports, retail sales, "all things people are looking for out of China" to drive the market.

For a breakout of some stocks fromcheck out Dan Fitzpatrick's "3 Stocks I Saw on TV."

3 Stocks I Saw on TV

On a technical level, Joe Terranova said he believes the S&P will move north of 1,100 this week. Pete Najarian agreed, saying there could be an "explosive move to the upside if we can get past 1,100."

Melissa Lee, the moderator of the show, shifted the discussion to the hot retail sector, where several stocks hit 52-week highs. Seymour said it was difficult to like Amazon.com(AMZN Quote) because of its current valuation.

He said retail stocks probably have too much strength priced in them. He said that while retailers have improved their balance sheets and managed their inventories, there hasn't been any evidence of strong consumer demand.

Adami said he liked Raymond James(RJF Quote), which hit a 52-week high today. Terranova said he liked best-in-breed stocks like Google(GOOG Quote), Apple(AAPL Quote) and Goldman Sachs(GS Quote).

Lee brought in Charles Gasparino, CNBC editor, to comment on the significance of not-guilty verdicts for two Bear Stearns hedge fund mangers in a subprime mortgage case.

Most Commented Today	Most Popular Today
Avoid Sirius XM	Troubling Droid Sales