"Earnings will continue to be in focus. On the margin it has been a healthy earning season," he said.
"The S and P is having a hard time getting above 1,450. It is a level of technical resistance at the moment. I think the backdrop remains positive, and we remain very much in a bull trend. Once we get above that 1,450 level, the market will move higher, but I just can't say when it's going to be," he said.
The bond market gained amid the weekly drop in equities.
The yield on the 10-year Treasury bond fell to 4.784 percent from 4.827 percent a week earlier while that on the 30-year Treasury bond eased to 4.865 percent from 4.926 percent.
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