“It’s pretty clear that the economic data all week long was better than expected,” BTIG’s Dan Greenhaus said.
Analysts disagree on whether the market still has more upside.
“We’re getting sort of close” to a fully valued market, Stovall said.
Greenhaus said the historic patterns suggest a pullback is likely. Even so, many in the market want stocks to go higher.
“You have a situation where things are not as bad as we thought, but the Fed remains accomodative,” he said. “And the combination has been positive for risk assets and should continue to be.”
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