Markets have held up in the face of some heavy headwinds, says Rob Fleming, Sr. Market Analyst, Schwab Center for Financial Research. He says the participation at the surface level has been fairly strong, with the breadth starting to look a bit weaker when broadening the scope. He discusses the inverted yield curve can be a precursor to a recession. He says they are keeping a close eye on how fast inflation is outpacing wage growth. They are recommending a neutral stance with quality companies. He gives his thoughts on upcoming rate hikes.