You could argue the S&P is a bit oversold right now after the three down days we've had.
Valuations are a concern right now, we really need to see corporate revenue growth.
I don't know if it can get back the volume that they have lost, but it certainly can't hurt.
The problem with things that are cheap is that they can always get cheaper.
We had a pretty dramatic selloff on Friday and it's normal to see some gains after that.
I think there's reason for optimism, but at the same time, I think there are plenty of reasons to be cautious.
The market is more sensitive to oil than anything else.
There's not a whole lot driving the market, which is why we've seen it go both directions.
It's the 50-day if there is anything technical involved right now. The 50-day is at 2,067, we bounced right off of that.
A recession is a fairly high probability. The question is when does it start.
What is China going to do? That is the biggest unknown for people at the moment.
Oil prices fell off a little bit after the market opened and that is probably what is dragging the market down.
I'm a bit surprised to see us hitting record highs again, we are pretty topped out and we should move sideways for awhile.
The VIX average for the year has been about 15 and I definitely expect it to be above 20 in the short-term.
You have to think that report makes the likelihood of a June rate increase somewhat higher.
