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Why Ask Why?

Why were stocks up Thursday? Rising up in the range.

Why were stocks down Friday? Falling back down in the range.

Reity, what will happen next week? Please see above.

And this form of Q&A will rinse and repeat until a new catalyst emerges that pushes us above 1700 or below 1600. My sense is that won't happen til July with earnings season and fresh economic data on jobs, manufacturing and services.

Just remember the trend is your friend until proven otherwise. So that means you should bet on a breakout above 1700 as the more likely scenario.

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