John Kosar says the market has been struggling for a least the better part of a month. He says the tactical bias is risk off and investors may consider waiting until the market improves. Out performance by the Dow 30 is what happens when the market takes on a defensive stance while technology stocks are trading in a very tight but volatile directionless pattern. The Nasdaq is testing the 50 day moving average for the better part of a week, which is a sign of near term stress and concern in the market. John also shows a chart of index futures sentiment relative to the S&P and describes the tactical interpretation.
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