The S&P 500 (^GSPC) and the Nasdaq Composite (^IXIC) lodged their worst week since April. PNC Asset Management Group CIO Amanda Agati joins Market Domination Overtime to discuss the market action and what investors can expect in the second half of the year.

"I think it's a little bit of an awakening in the broader part of the market here as we sort of hit the halfway point of the year and set the stage for the second half. So I think it's been a very interesting couple of weeks," Agati explains. She argues a rotation is beginning as the markets broaden outside of Big Tech, adding, "the handoff between large to small and mid and certainly growth versus value has been sloppy. This relay race has not been a clean handoff, but I think it's what sets the stage for the second half. It's going to be choppy out there."

Agati stresses the importance of the second quarter earnings season, believing it could get the market rally up and running again. She has her eye on financials, healthcare, and industrials in this earnings season, and adds, "I think the key in the second half is really to start to see some signs of life in those particular areas. We can't just assume that tech is going to lead the charge here, and communication services is just going to continue to lead the charge at these valuation levels. The earnings chops are strong, there's no question, but there's just not a lot of headroom to keep this market rally going without some broader base participation."

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

This post was written by Melanie Riehl