The stock market is being choppy on the heels of impending rate hikes and fears of a trade war with China. Lending standards have become quite stringent since 08 so chances of a housing meltdown is low.

I think this a play by large institutional investors to sell now and buy at cheaper rates a month from now. After tax cuts were announced, large corporations have announced at least 800 billion in stock buy backs, which will push stock prices higher in the summer and fall.

The stock market crashed in 99, 01 and 08 due to economic slowdown in Asia/America. But right now the Fed is actually betting on growth rates rising, so all else equal, earnings themselves should drive up stock prices this year. Even if there is a bear market it should come back up quite quickly.