With the advent of warmer weather the usual talk now develops of whether or not there will be a summer rally. It seems "summer rallies" are one of those Wall Street fetish topics that really has no relevance in the world of investing, but nonetheless draws attention. For my part, I really have never been a seasonal investor depending rather on macro-economic analysis in judging the markets' potential. Right now I continue to view that potential as very limited. I will repeat: until there is an improvement in the housing sector no economic recovery is sustainable, hence there is little bullish potential in the current market. In fact, I think the market is ripe for a significant correction real soon.