Is it time to take stock?

The market got whacked again - the Dow was down 130 points thanks to new worries about interest rates - but the bigger story could be a long-term weakness in stocks. Yes, I realize that nobody has a clue about where the market is going until it's gone, but it just so happens that both the Dow and S&P are reaching levels that the technicians - those nerdy types who make trading decisions based on the movement of squiggly lines - say could presage more selling. Lots more. Believe it, don't believe it - here's MarketBeat's David Gaffen:

After February the market recovered strongly, but higher worldwide interest rates and their potential impact on growth have investors worried, pushing stocks lower. Chris Johnson, head of Johnson Research Group, says the selling could accelerate should the technicals worsen. “The decline was expected due to last week’s selling, but a continuation of the trend over the next week will begin to knock some of the strength out of the market,” he writes. “We’ll be monitoring this as the week progresses, as a depletion of market breadth will undermine short-term buying.”