Grasso: Don't Buy Right Now

The next key level for S&P 500 is 1964 and it is the worst time to buy right now, Fast Money trader Steve Grasso told on CNBC.

"This (1964) is the level market needs to hold. We touched it today (Friday), but we couldn't hold it or couldn't break through," he said.

He continued, "It is the worst time to buy right now," explaining that the market has lured the retail population into the stocks thinking it is all clear.

The maximum it can rally is up to 2000, while between 1964 and 2000 is the sell zone, he added.

At Friday's close, the S&P 500 index was up 0.02 percent to 2,091.95.

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