Oil is the big theme. As it backs off, demand for stocks will increase. The trend for the indexes remain up, we may see further gains.

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A pause on rate increases would be another plus for stocks.

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To me, the longer you sit above $60 a barrel, the greater the likelihood we'll have a push even higher, ... But just staying between $60 and $70 is very bullish for oil. It's going to make it difficult for the market to have much more than one more push upward.

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