It’s been tough sledding out the gate, and there has been nowhere to hide in the stock market, as all sectors are lower.  On a granular level, there is interesting action in many oversold names.  Moreover, the market is reacting logically considering the risks and worries about the outcome of this week’s trade meeting. I read that as a positive.

If the Dow Jones Industrial Average was down 500 points, would anyone raise an eyebrow?  It would be chalked up to headlines and the never-ending financial media’s search and promotion of recession (it’s been really embarrassing today).

• 2 year 1.46%
• 10 year 1.54%

I think there will be news that rallies the market at the conclusion of the trade meeting, and all the pre-meeting hubris is par for the course.