Editor's Note:

Volume tends to drop during lazy summer sessions. That makes stocks a little more vulnerable to headline news. Today the market-moving headline was the World Bank cutting its global growth forecast. The World Bank reduced its global growth forecast from +3.2% down to +2.8% for 2014. The major European markets closed in the red. Asian markets were mixed.

Stocks as a whole were a bit overbought and due for a pullback anyway. Any excuse would work for traders to take some money off the table.

A pullback is healthy but it may not be over yet.

We are not adding any new plays tonight.