There are problems emerging in the U.S. stock market, and that means it's time to sit on the sidelines, widely followed investor Dennis Gartman said Thursday.
"I am really quite fearful about what's happening here. We're breaking technical support levels; the fundamentals seem to be tipping over," the founder and editor of The Gartman Letter said on CNBC's "Closing Bell."
"It will be a long while before I'm a buyer of equities.... The sidelines are a safer and better place for one's money now."