Oil prices are continuing to rise. I see this trend going up further as we head into the summer driving season. There is pressure again from the Middle East uncertainty, and demand is continuing its rise. Construction stocks are being hurt. Homebuilders, home retailers, etc. I think stocks like Cemex (CX) and Lowe's (LOW) are going to be put on sale in the next couple of months. I wouldn't buy them now, but they are both great companies that I see trading lower in the near term, and performing well later in the year.
I still think we could see a dip to the 12,000 range for the Dow, and that would signal a pretty decent buy point. The volatility is still up and down, so I'm still a little apprehensive on the market as a whole.