Editor's Note:

The major U.S. stock market indices were down across the board on Wednesday (S&P 500, NASDAQ Composite, Russell 2000, Dow Jones Industrial Average).

The Dow Jones Industrial Average snapped a five-day winning streak. Meanwhile the S&P 500 large cap index and the Russell 2000 small cap index, both of which were down a little yesterday, continued to pullback today.

Stocks were short-term overbought and due for a pullback so this move is healthy. However, the decline may not be over yet.

We are not adding any new trades tonight.