The Nasdaq is generally considered to be a leading indicator for the broad market.  The Nasdaq has now come under institutional distribution six times in the past ten sessions.

The battle continues between bears and bulls for control of the 50-day moving average.  This mark appears to hold the key to the next significant move in the market.

The major indices continue to probe their respective 50-day moving averages.

The market continues to exhibit indecision amidst strong divergence among sectors.  Leadership has not yet abandoned the market but the market picture has become more clouded in recent weeks.

Before shying away from his current neutral stance on market direction, Deron Wagner will need to see follow-through in price action.

Market leaders appear to be struggling, as Deron Wagner's daily research has been uncovering very few long setups.

Typically, when uncertainty surrounds the market institutional money moves to the sidelines. Deron Wagner's current market bias has now shifted toward neutral.

Deron Wagner provides an explanation of why it is often difficult to trade in the wake of volatility, and uses iShares MSCI Japan Index ETF (EWJ) as an example.

When volatility hits the market, it tends to nullify many potential setups, and Deron Wagner prefers to remain patient rather than overtrade.

During periods of volatile market activity the best trades often develop intraday.