But even if the index eclipses the record next week, not everyone is viewing it as an indication that stocks are poised to then shoot higher. "We need to see something consistently good or bad to move the markets in a direction," said Peter Costa, president of Empire Executions. "We are recommending investors be underweight equity risk at this point," Morganlander said. "Tested twice, three times, makes it more obvious to be a strong resistance level," Stockton said. But the run fizzled on Thursday and Friday, making it the latest time the index has climbed above 2,100 before falling back from the May 21, 2015 closing record of 2,130.82.

Source: Economic Times June 10, 2016 23:17 UTC