People get white knuckles from turbulence. But I don't think what we're experiencing in the markets is a suggestion that we're on the verge of something really horrible.

People are questioning the underlying fundamentals of (technology stocks).

I think divergence is the name of the game for the first half of the year.

There is substantial further advance looming now on the heels of this move. There are a couple of things that could show up down the road that we should keep our eye on.

The question is what catalyst will get it going. My guess is more signs of a stronger economy. That might be higher interest rates, but you may need that to get small caps going. They may improve as the bond (goes down).

Investors tend not to have a big problem with split government because for many investors, the government that governs the least is the government that governs the best.