The Flipping of the Switch in the Equity Market

Danny Cevallos: Things feel the diceiest that they have felt in some time to me. I've been talking about who is the incremental buyer of equities at 40 times earnings 50 times earnings and we'll get into some of these things here. We know that there's been a very low vol rally in equities and it's done okay as inflation has come down and rates have gone up, he says. The true test will be if valuations are pressured by higher yields which hasn't been the case on the S&P so far this year.