There’s an air of nervousness in the stock market today after the market’s triple-digit dive Tuesday. I want to give my readers a good feeling of where we are with stocks.The yield on the U.S. 10-year Treasury has been rising, but it is still below the four-percent level needed before we see money leaving the stock market for the bond market. I’m watching this risk closely, but this is more of a medium- to longer-term risk. The problems in the Middle East with civil unrest could actually make U.S. Treasuries a safe haven again, pushing yields down, as demand for U.S. Treasuries rises.Funds available to enter the stock market on the improving economy are relatively high. There is plenty of cash on the sidelines to buy stocks and, for capital; there are few alternatives to the stock market right now. The Fed is insuring this attitud hr consultants e by keeping short-term rates low.Speaking of the Fed, despite the improving economy, interest rates and the monetary environment that the Fed has control over continue to be expansive. Don’t fight the Fed. If the Federal Reserve is making money “easy,” you don’t bet against their actions in the stock market.It all sounds so positive and rational above, right? So where is the risk in the stock market today? It is all about expectations. As a group, stock market advisors are extremely bullish. In fact, there hasn’t been this amount of bullishness in months. The bears are back to being a very small minority. As I have written countless times, the market always delivers the opposite of what is expected of it. And, as a contrarian at heart, I follow this truism for market direction.A healthy correction by stocks would be a good thing.