Stocks are experiencing a broad-based pullback, with major indices (^DJI, ^IXIC, ^GSPC) trading in the red as markets transition into September — a month historically known for weakness. Gradient Investments Portfolio Manager Keith Gangl joins Market Domination to discuss his market outlook.

Gangl reassures that the current sell-off is not cause for alarm. Despite a 2% pullback, markets are still up 19.5% for the year. He attributes the sell-off to profit-taking and, with the jobs report on the horizon, advises: "I think that everybody just needs to take a deep breath and kind of watch what's going on."

As the Magnificent Seven tech stocks are currently underperforming the S&P 500, Gangl considers it "wise" for investors to move cash out of Big Tech names and into other areas of the market. While acknowledging these stocks' role in driving market gains, he suggests investors maintain underweight positions in the current market dynamics.

"It's normal for the markets to pull back, we'd like to go up straight 7 to 8% of the year, but it doesn't work that way," Gangl states.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Angel Smith