The S&P 500 Index (SPX) has quietly dropped close to 4% off its all-time highs. Price action this week has not been very convincing.
Although the long term trend is still bullish, there are several asset classes that are trading in crazy ways.
Oil does not seem to have hit a bottom yet, and is back under $50.
Gold has been hammered and is probably heading lower.
But most importantly, Bonds are near all-time highs, as is the Dollar index which in general, would mean a time to be cautious.
Watch this video below for a more detailed analysis