JPM, C, WFC reported earnings slightly below expectation and their stocks are down dragging down the DOW a bit. This is the effect of flattening yield curve and softening of the economy. Luckily there are no massive sub-prime mortgage to drag the economy. Just a normal cycle and we are at the tail end part of this cycle. The FED holds the card on how long this bull market will last. Don’t be fooled by the strength of NASDAQ. When the market truly is ready to come down, all sectors will come down.