June E-mini S&Ps (ESM14 -0.47%) this morning are down -0.40% and European stocks are down -0.64% after the World Bank cut its global 2014 GDP forecast to 2.8% from a Jan estimate of 3.2%.

The Aerospace Industry Group has been one of the most rewarding industries and remains quite lofty. But fundamental valuations are way too high and my technical indicators are not holding up over the recent months.