Right now, the market is going through rapid rotation and very little stability in the process of trying to find sector leadership.

We're trying to take state as a team.

A year ago we were just trying to survive. Now we have a sense of stability and direction.

The first quarter economy rebounded strongly, but it wasn't too strong in this case.

Investors remain very cautious. They're holding back, waiting for the Fed. We still have buyers in the market, looking very selectively to put money to work on pullbacks.

Good news on retailers should be a sigh of relief.