Stocks are extending Friday’s declines with heavy selling pressure in early trading. As of 10:15am, the S&P 500 Index (SPX) is down -1.5% and down -2.5% from the Jan. 17th closing high. Even with the recent weakness our tactical indicators are not to levels that would suggest buying this weakness. Here is where the current intraday readings are and the levels we look for to become more aggressive:
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