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"We are seeing a pullback in commodity-related stocks".
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We were thinking that if today's jobs number was poor, we would start to see a pullback".
"There had been some concern about softness in recent data and that's why we saw a pullback.
At some point you have to see a pullback, and maybe that is what we are getting".
Also, U.S. Treasury yields would look more attractive, and that too could see a pullback in investor flows in the nation.
"Even if we see a pullback on global concerns, there are better measures in the U.S. The outlook for stocks comes down to earnings.
"We saw a pullback in 2009 and 2010 in industrial R&D," he says, with spending tumbling in both years.
Assuming Rogers is right, in a year or two we could see a pullback in oil prices that could take them temporarily into the low thirties.
For today's chart we've chosen to take a look at Gilead Sciences because several technical indicators are suggesting that we could see a pullback toward the support of the 50-day moving average (currently near $77).
"When we see a pullback on the residential side and as Lafarge's revenues continue to increase, people will realize that the [interest-rate] sensitivity just isn't there," Rodgers explains.
"That's why this year we're seeing a big pullback.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com