Clearly, there's lots (LOTS!) going on in the world for the equity market to get the jitters over. There's also, as I mentioned in our recent technical look at gold and U.S. equities, seasonality:
"...by the way, August and September are the only two months of the year that have long-term average negative returns for stocks. So folks, if it gets choppy, and gets kinda weird, seasonally speaking, it's supposed to, right about now."
(Although, one might argue that "weird" aptly describes how impervious the U.S. market has been to virtually [there was a 10% dip in the SP500 last September] anything more than single-digit percent dips since the dramatic action of last spring.)
Clients, if you happened to have missed that one, I'd like you to give it a look, from the 11-minute mark on in particular. It'll remind you of our long-term thinking right here:
Attention Non-Client subscribers: Nothing in this video should be construed as investment advice. The examples expressed relate to portfolio management we perform on behalf of our clients, and, again, under no circumstances are they to be considered recommendations to the viewer.