On a general note regarding the major market, a business executive whose opinion I respect sees parallels to 1987. From 1982, the market had risen steadily until a sharp correction began in October of 1987; DJIA down 23% in one day. It took two years to regain pre-correction highs.

In March, he hinted that all wasn't well in the big bank sector. Coincidentally, about two weeks later, five of the biggest banks failed a Fed stress test. Keeping money in small banks with high ratings and unquestioned solvency is preferable now to accounts in big banks, in my view.