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Stocks could face bumpy second half despite healthy gains

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Second Half Outlook: Is there potential for a correction?

Stocks started the second half of 2014 with healthy gains, and while many analysts expect further advances, the trip higher won't be without challenges.

The was up 4.7 percent for the quarter, its best second-quarter performance since 2009. The S&P has risen in each of the last six quarters, the longest winning streak since the 14 quarterly gains from 1995 to 1998.

"We haven't seen the behavior that suggests a top," said Ari Wald, technical analyst with Oppenheimer Asset Management. "You are going to see pull backs. It's picking your spots, but I think this market can continue to do well."