Well, it's becoming real clear what the zeitgeist of the next few months is going to be - a huge global bet on recession and the trade war. Yes, those two things are one for now. Add this to the backdrop of foreign investors pouring money into the US because of our high interest rates and hot large cap market. We have seen this before.

Then you add the backdrop of recession signals, lowered earnings expectations, and market moving tweets to arrive at a volatile market. My take? I'm sticking to my discipline and my view hasn't changed since January - a slow second half ending in people saying it's different this time. It won't be.