There has been a significant loss in medium-term momentum behind the S&P 500, notes Katie Stockton. She discusses how the major indices are on pace for a losing month. She goes over how investors might want to use this rally to reduce exposure. She highlights that once we have a nice turnaround in those medium-term gauges, that’s where we’d feel more comfortable adding exposure in anticipation of a retest at the 4600 level. She looks at charting the U.S. dollar (/DX), the S&P 500, and the 10-year-yield. She also talks about how tech led yesterday’s gains as Nasdaq-100 rose 2.15%. Tune in to find out more about the stock market today.