'Fast Money' Portfolios of the Week

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By Roberto Pedone

PEWAUKEE, Wis. (TheStreet) --Some of the traders on CNBC's "Fast Money" are concerned that with Apple(AAPL), Google(GOOG) and the rest of the tech sector losing steam, market players might be starting to fear that the bull market rally is over.

On Tuesday's "Fast Money" TV show, Joe Terranova said that the markets have lost momentum caused by strong earnings reports and now the S&P 500 has suffered a technical failure. He pointed out that the market lost the best sector, tech, and the smartphone trade has started to unwind.

Terranova told viewers that if the S&P can trade back above 1070, momentum will prevail. Tim Seymour said the uncertainly around the one-time home-buying tax credit, which is set to expire, weighed on stocks. He also mentioned that investors might be getting scared that the stimulus dollars are starting to leave the market.

Karen Finerman said she isn't worried about the tech sector, which over the last six weeks has had a huge run before hitting a bump. She also advised viewers not to worry about the consumer confidence number because it's backward-looking and doesn't give us a whole lot of information.

On Wednesday's "Halftime Report" segment, Brian Kelly explained that Apple is the key to overall market direction. He said to watch how the stock trades off of former resistance at $192.38 a share. Kelly said if Apple can catch a bounce at that level, it will be a bullish sign for the broad market However, if it can't, he thinks the S&P could easily drop 5%.