Stocks could correct this summer, but it won't be because the U.S. market is blindly following Germany.
Unlike the Treasury market which has been shadowing German bunds, the German DAX's more than 10 percent correction is not leading the way for U.S. stocks, strategists say.
"You've got (rising) rates. You've got the Fed. You have Greece. You have EM. You have illiquid times, which is summer. The sectors are showing less momentum, less rotation. Breadth is starting to deteriorate a little bit," said Jordan Kotick, head of cross-asset strategy at RBC.