The MetLife offering priced last night raising over $9 billion. That makes this week the heaviest week of offerings of the year. I believe this supply combined with the uncertainty in the Middle East should keep a lid on the market in the coming days.
Retail investors have not been scared off by Mideast turmoil or higher oil prices as ICI reported that $1.5 billion flowed into equity mutual funds in the latest week. This likely explains why the decline in the major indexes has been so small since the crisis.