Near term factors:
Euro growth concerns
Negative bond yields
Long term factors:
Yesterday's gains have been wiped out mainly due to the Fed’s patient approach to raising rates. Investors are growing cautious as the economy may not be as hot as we thought. The S&P 500 tested key levels and got rejected.This is a healthy down day as we have been up roughly 10% year-to-date. As I said in the 1 percent move yesterday, the yield curve is doing things we haven’t seen in 10 years or the great recession as we know it. This reality check seems to have a few investors on their toes but nonetheless make sure to be conservative in volatile markets.
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