The market has been undergoing some end of the quarter window dressing, and it’s nice to see the buying pressure come in on many of the stocks in the IA portfolio.

Last week, the Fed raised key the lending rates, and said that inflationary pressures should be moderating but didn’t rule out any future rate increases.

After a brief run up that could carry us into the middle of the month, the market will begin to focus on any weakness in the economy, and any possible future rate hikes. I have been preparing you for many months about the potential for a severe downturn in the market. My best guess is the August-October timeframe could create some wonderful bargains.

Today, North Korea test fired some missiles that basically failed the test. It’s amazing how the news media jumps on every little thing to create fear and panic. If it isn't terrorists, it’s the heat index or wind-chill factor. If North Korea were a serious threat to the U.S., we have the capability to completely destroy their nation without sending in a single serviceman. I wouldn't give this failed test another thought.