The markets tend to look 6 months out,especially in the futures markets, so we may not feel the pressure building quite yet but there are numerous danger signs rising and then there's that pesky election in November that may further rattle the markets.
Here are a few articles that may help put the current market dynamics in perspective:
OANDA on the state of the Euro.
Schwab and the Weekly Trader's Outlook.
Mauldin on European concerns.
Bloomberg on the state of hedge funds
Below are the VDX updates for SPY, VIX and TLT.
We continue to see a decoupling of SPY/TLT correlations which is likely the product of global consensus that the lowest risk investments (for now) are US equities and longer term treasuries.
