- Austerity measures will hit global growth.
- Municipalities are also enacting their own austerity measures.
- Stimulus is wearing off.
- Mortgage resets are about to hit.
- Inventory rebuilding has largely run its course.
- Comps are getting tougher.
The outlook for today is a tough call. A pullback would not be surprising after yesterdays surge. But I think shorts and under invested bulls will be pretty quick to jump on any weakness.