A market 'pivot point' would normally be anticipated (and may well still be) for the S&P; based on upcoming mediocre earnings as well as guidance (with options for improvement 'depending' on a trade deal as of course can't yet be gleaned); and due to 'seasonality' as well as the contraction (nearly absence) of buybacks ahead of earnings reports.
Many funds, hedgers, or technicians have fought this market advance all year, which actually might help 'cushion' the depth of correction as it arrives (perhaps in this April-May timeframe which is ripe for sort of a setback, if not for the pending China deal keeping everyone keyed to that); and realizing a 'trade agreement' could trigger a brief spike.
Meanwhile issues I've warned of (like Boeing) suppress the DJIA, at the same time other issues (like the rumors of the Saudis ditching the so-called 'Petrodollar'), that I did not think were anything but bluffs (in particular the Saudi threats), have been refuted now by the Saudis; I suspect somebody gave them a royal thrashing for pondering that.
In sum: Text is limited tonight (as it should be always perhaps); as aside the comments I've made, it's more or less a stagnant market.
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