A lot of people are closing out positions before the weekend, with negative news escalating all over the place. After the nice move coming out of the year-end, this is a little more aggressive than usual. We need to be concerned with commodity prices and interest rates, too.
It's kind of a holiday snoozer, ... All of the big players have locked in their gains for this year. It's just going to be quiet with exaggerated movements because of low volume this week.