"Nothing goes up forever," Cardillo said. "We will be headed for a correction somewhere along the line."
Markets were mixed in Europe. Italy easily sold $10 billion in 12-month bonds, though at slightly higher interest rates. It was the first test of market sentiment since Fitch downgraded the country's credit rating on Friday due to political uncertainty there.
The Dow's biggest wobble this year came on Feb. 25, when it lost 1.6 percent after inconclusive results from Italian elections pushed the country toward political gridlock, threatening its ability to follow through on unpopular budget cuts demanded by its European neighbors. That gave investors a flashback to last spring, when a flare-up in Europe's debt crisis sent markets spiraling lower in the U.S. and Europe.
The yield on the 10-year Treasury note, which moves inversely to its price, fell to 2.02 percent from 2.06 percent.
Among stocks making big moves: