With a new month starting next week and jobs reports and earnings season approaching, expect tapering talks to subside. The market should turn its attention to more fundamental data, which has been mixed lately. At this point, the market doesn't seem to have a good hold on the fundamental data. It was shown in the recent pullback followed by this week's triple-digit bounces. Technically, the picture is also mixed. The S&P 500 is in an intermediate term downtrend started on May 21. But the long term trend started in October 2011 remains up. Stocks traded in the past two sessions as if the 50-day moving averages were a trigger point. After the S&P 500 bumped into its 50-day moving average yesterday, the DJIA retreated at its 50-day moving average. We could see the same scenario play out again next week. However, should the two major indexes decisively break above their respective 50-day moving averages (currently 15041 for the DJIA and 1622 for the S&P 500), expect buyers to step in to lift stocks higher.