Markets caught everyone by surprise this week, surging 3% or more but on rather average volume. While the top of the range is still in reach (call it 944 at the extreme), we've seen some good action spread across many sectors. It's this breadth that makes me consider the next move may be higher after a bit of a stall. We are embarking on the beginning of summer, and after a 40% rally it would be rather strange to not see some kind of correction. After all, those looking for a 'summer rally', which usually starts after July 4 will be out in full force soon. The odds seem to favor some sort of pullback, the timing of which will only be known when there is a lack of buying interest. The stories about underinvested fund managers permeate each trading day, which makes it more difficult for the market to actually go down. The disbelievers of this rally find themselves behind and ultimately chasing higher prices. This game has been played endlessly, the game of momentum. Naturally, what goes up eventually comes down...but those signs are not there just yet. Breakout past 950 on a close and the 1000 level on SPX will be a slamdunk.