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What Pullback? Stock Rally Still Has Legs, Strategists Believe.
Stock strategists are still seeing up arrows when it comes to this market.

One of the hottest debates on the Street these past three or four weeks is how much further the bull can run before it runs out of steam.

Many traders believe a pullback is inevitable and for some, this week is as good as any for that to happen, given recent low volume of trading.

But several strategists say in notes that they see stocks still moving higher. Citigroup's stock strategist Tobias Levkovich warns the market's naysayers could be proven wrong, and this could be an above average bear market rally.

Also, a higher stock market could also boost consumer confidence. For that reason, the market has a good chance of seeing a better-than-average bear market rally.

The average one-year bear market rally off of the bottom has risen more than 43 percent and it's likely, there is still room to go higher. Another factor is that there are lots of investors who missed the moves and are sitting with large cash hordes.