Mark Newton, CMT, Featured On CNBC: Tech Could Bring “Deeper Retracement”

CMT Association members Mark Newton and Todd Sohn were featured on CNBC's Market Insider late Monday, speaking about investor sentiment and the role tech stocks will play in the market near-term.

"I don't think we could say with a lot of confidence, there needs to be this year end rally, and now everyone is looking for it. They're scratching their heads. It doesn't seem to be fear. It's confusion, and when confusion turns to fear that's when you see a trading low," said Newton, chief technical analyst at Greywolf Execution Partners and founder of Newton Advisors LLC.

"Excluding today, the bounce from the 29th to Friday, this 8 percent move was not accompanied by resounding internals. That left us a little uncomfortable," said Sohn, technical analyst at Strategas Research. "I think there's a debate here, a possibility [the lows] are in play."

"If Apple is still trending down, there is no evidence of bottoming. We should not be surprised. The stock, like other techs, is still trending lower," said Newton, who pointed out that, despite the trend described in the chart above, longer-term trends are still positive.

Read the full article here: Apple's breakdown could mean the stock market retests the October low, chart analysts fear.