The price of energy should spook investors. So far, the market is foolishly accepting of the price of oil without a negative reaction as long as it doesn't break out to a new high.
We think 3.5 percent is a good point for the Fed to take a break to measure the economy and the impact of its rate hikes. If the economy does appear to be picking up, they could start raising again.
We've been stuck in an extremely narrow band for the last few weeks, and this could break us out.
The story (this) week is: Does it hold it or will it break it.