U.S. Markets open in 8 hrs 27 mins

MARKETS: Don't buy the dip, sell the rip, warns Bank of America Merrill Lynch

Yahoo Finance's Alexis Christoforous and Jared Blikre break down the latest market action as money flows show a move back to U.S. equities, but out of high yield and emerging markets. Combined with the rising dollar, crude oil prices and Treasury bond yields, BAML is warning of headwinds for risk markets.