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Member SIPC. Welcome to the Bloomberg Surveillance Podcast.

I'm Tom Keene with David Gura.

Daily, we bring you insight from the best in economics, finance,

investment, and international relations.

Find Bloomberg Surveillance on iTunes,

SoundCloud Bloomberg.com, and of course on the Bloomberg. Gina Martin Adams is our chief equity strategist here at

Bloomberg Intelligence. She joins us here in our Bloomberg 1130 studios.

Welcome, great to have you with us. Let's start broad here looking at this market, maybe a market in

search of a catalyst. What are you seeing as you look at equities right now?

Yeah, in a short term we've entered some sort of consolidation mode. You can call it the post-reflation trade. I don't know what you want to call it, but since the beginning of the March of the month of March, stocks have kind of been moving in a sideways direction. And in the grand scheme of things, it's a modest consolidation within a long-term uptrend.

It looks like we broke out of a pretty significant correction by the end of last year.

We broke out, we confirmed a lot of long-term uptrend lines

with that correction, and it's been off to the races since.

So it's natural that you have these consolidations

...