US stocks make best gains in 16 years, with relentless moves up. What's next and what to watch?

...but it doesn't mean we won't have speedbumps

- Right now US markets are holding their breath for key jobs data and Fed commentary. So overnight we saw a bit of profit taking - and breathing space put into markets. Thats normal.

- But what's going to be key, is next week release of February's CPI and PPI. We need to evidence that January'ss inflation data was a blip. Or will it show we are seeing a reversal of a trend, and now inflation is heading back up?

- Did you know in 16 out of 18 weeks US stocks have been rallying. It's the first time we've seen this since 1964

- Optimism is high, momentum is strong, the breadth of the rally is strong. the US with Magnificent 7 Index, the Nasdaq and S&P500 are at record highs, and 76% of the S&P500 stocks are trading above their 200 days moving average

- While the markets fear gauge, the volatility index is at 13, which is one-year low neighborhood.

Also watch the biggest 15 stocks in the US, as listed below by market cap