Perfect storm for a negative market today, the consumer and banks.

The markets got slammed today from an unconfident consumer and bank profit woes from two of the majors. This was the recipe for the sell-off and the continuation of the extreme volatility that we have witnessed since early May. In my previous posts and today, this type of volatility continues to be my concern and it can very unnerving for any investor except for the day trader which for them this market is a dream. Just last week the Dow, Nasdaq and S&P 500 rose over 5% and the rally continued this week until today. I think we can all expect more volatility ahead especially as more companies report their 2nd quarter results. So let’s fasten our seat belts and see what next week brings.

Have a great weekend.