Update: Wait and See (Tech Selling)

Quick Update...

Good afternoon:

I urged some caution this morning, but selling has been rougher than even I expected. A 1.5% sale on tech stocks today has me in a wait-and-see mode. We couldn’t get much optimism out of this rally - and we didn’t even get to test the 50-day moving average on the MAG 7 stocks or the FNGA.

I think you’re seeing the start of profit-taking, …