News indicate slightly worsen economy but as long as unemployment claims stay above 6.5% & QE continues, stocks (S&P 500) can still stay above 1700
If investors focus on the whole economy instead of just unemployment claims & QE, 1700 is at risk
QE maintained & strong earnings can propel stocks even higher
However, stocks might fall at the end of the day even if it goes up during the day
Because stocks are too high & needs a pullback, traders might also take profits at the end of the day/week and the economy is not so good
Yesterday's the same, stocks are too high & we waited for a pullback but it didn't happen, so there's a higher chance for the pullback to occur today
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