There are a number of big market events coming up next month that may go a long way toward determining the direction of equity markets over the balance of the year:

ECB policy meeting (June 2). The European Central Bank (ECB) has embarked on a massive bond buying program (quantitative easing [QE]) — similar to the Fed’s programs in recent years — to help reinvigorate the region’s economy and fight deflation. A major shift in policy at the June meeting is unlikely given the central bank will not start…

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