The good news for the markets was the selling didn't accelerate into the close but actually made something of a modest recovery in the last 15 minutes of the session.
We're actually in a rather tenuous position at this point with earnings season (AA) kicking off this week although analysts' current consensus is for generally positive earnings reports.
Here we are almost mid summer and the markets have not succumbed to the typically summer blahs in spite of the numerous geo-political "crisis" that have in other times provided the catalyst for good sized dips.
Once September rolls around the expectation is for more momentum into the new year so a little pullback is not unexpected at this juncture. For now we'll just wait in CASH for the next move up.
