Away from the office currently, with spotty connection, but wanted to pop in, in light of today’s market action.
Clients and regular readers should not be surprised, nor should they expect that one day’s volatility will remedy the near-term imbalances we’ve been taking note of lately. 
Here’s from this week’s message:
“The next few weeks (leading into mid-term elections), are, at best, likely to see a notable pickup in volatility. At worst, a pullback in the mid-single to low-double-digit % range.“
What ultimately counts, general conditions, clearly point to higher interest rates, but low odds of near-term recession. In fact, higher rates, at this juncture, confirm the presently positive longer-term setup.