Markets mixed, “finely poised for very big move”

Markets were mixed on Friday.

The S&P 500 and STOXX Europe 600 fell 0.9 percent.

However, earlier in Asia, markets were higher, with the Nikkei 225 up 0.6 percent and the Shanghai Composite up 0.2 percent.

Some analysts have noted that the US stock market is undergoing a slow motion deterioration.

“For the last several months, most stocks have declined more frequently than they have advanced--evidence of a weakening market condition,” CFRA chief investment strategist Sam Stovall said in a recent note to clients.

Paul Gambles, co-founder of investment advisory firm MBMG Group, said that “the market is very finely poised waiting for what potentially could be a very, very big move” and “unless you can really afford to take what could be a pretty big hit, and possibly even a permanent hit, then it is better to just sit on the sidelines”.