Market has foundation for a continued rally, says Neuberger Berman's Shannon Saccocia

Market Performance & Outlook - The market could close above 6,800 on the S&P 500, above 2,500 on the Russell 2000, and above 47,000 on the Dow Jones Industrial Average [1] - The market continues to move higher despite credit concerns and valuation questions [2] - The path of least resistance is higher, but the market may identify another point of complacency [7] - The market popped 1% on the open and then stagnated, indicating a lack of urgency in buying or selling [4] Macroeconomic Factors - Inflation data continues to support the Federal Reserve's (The Fed) intended actions [1] - Fears about a potential economic slowdown are the most likely factor to negatively impact the market [8] - Current data does not indicate a meaningful economic slowdown, providing a foundation for continued market rally [8] Market Sentiment & Trading Dynamics - A reset in prices allowed the market to recover after a period of slippage [3] - Trade-related news is no longer significantly impacting the market, as dips are being bought [7] - Retail traders are hyperactive, generally contributing to more buying than selling [5]