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Reuters – Fri, Mar 30, 2012 9:05 PM EDT
By Chuck Mikolajczak
NEW YORK (Reuters) - After the best first quarter in 14 years, the S&P 500 may be poised for a pullback as investors look to a slew of economic data for insight on the strength of the domestic economy.
"You've got manufacturing, service, retail and jobs all coming out during the week, plus you are going to have people next week start to think about first-quarter earnings," Junkans said.
But even if equities do pull back - and with more than 80 percent of the benchmark S&P 500 above the 200-day moving average - the market would appear primed for one, analysts cautioned it was more likely to be a healthy decline.
"If you get weakness initially in April, no one is going to really panic unless all of a sudden, the bottom falls out," said Ken Polcari, managing director of ICAP Equities in New York.
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