Investors wonder whether this calm march back to near record highs can be trusted


Markets that refuse easy chances to sell off are typically seen as well-supported by stronger-handed investors looking ahead to improving fundamental developments.

The cumulative breadth indicator, a running tally of advancing versus declining NYSE stocks, reached a record last week. That move often precedes a new index high.

But the next three weeks are among the rockiest, on a historical basis, of the entire calendar.