The Bear served a clear warning to the market with heavy sell volume flooding the major indexes for Monday.

Our outlook remains the same as it has for months: we await a pullback or correction of  at least the 5%+ variety while keeping a bullish intermediate-term view.

Now is not the the time to be buying growth stocks. Rather, aggressive traders may consider shorting semiconductors, as this bellwether group often provides the kind of sharp moves to allow for quick and sizable profit taking.