Broad-based rally, strong economic data leave traders questioning how much further stocks can run

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Market rally, economic data leave traders questioning how much more growth we can really expect

And yet there are already signs that growth is about as strong as it can be expected to be.

"This is not a normal business cycle, and I don't know if the rules of thumbs that applied in the past will necessarily hold," said Jack Miller, head of trading at Baird.What will make or break the markets in the coming months? While the course of the vaccine rollout and the efficacy of the virus against variants are the main macro issue, most strategists are very clear on the main short-term catalyst: earnings guidance.

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