Hi Rod,
I am sorry but I have to agree with Jim on this one. Small dips are always bound to happen for a variety of reasons, profit-taking, international factors, etc. i think it would take a much bigger and more sustained drop before you could really blame it on some particular factor.
That said, my own $0.02 worth, (not that it is really worth that much

) is that sooner or later the market will drop quite a bit. I base this on the market being overheated because of a lot of money chasing a decent return in an ultra-low interest rate economy. A some point the economy will be back to more normal and interest rates will begin to climb. At that point I expect money to flow out of the stock market.
One thing I don't see discussed much is the exchange rate. The US$ has been dropping steadily over the past year. For example, a year ago, US$1 would buy A$1.68. Today it would only purchase A$1.28. While part of that change is due to commodities such as iron ore being near record highs, it also indicates that the US$ is becoming less wanted.
Cheers,
Maurice