June is historically a bad month for stocks in a mid-cycle election year, says Mark Newton of Greywolf Equities. Stocks remain at elevated levels, but the volume has been very low. Newton believes investors should take profits now while stocks are at these high levels. He is concerned that with the ECB meeting and the jobs report coming out on Friday, negative news could sink the market. Also, fewer stocks are hitting new highs and there hasn't been a positive catalyst to motivate buyers. Economic data has been positive but weak, which doesn't convince traders to commit capital to positions.

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