A possible catalyst that could cause June to be a turbulent month, while still squeaking out about a 1% gain, would be the June 10th CPI report coming in hot. The labor market and supply chains have seen the worst of and have been passing on the price increases to consumers/customers successfully. If it comes in hot, it could cause the market to rethink the idea that is transitory and cause fear that the Fed will slam on the breaks too soon with their asset purchases.
If and when this happens, the market should adjust and reprice accordingly and then continue its leg higher.
What do you think the markets will do? Will this year be a choppy grind higher or will we see another correction and have a smooth ride from then on? Possibilities are endless and there can always be a macroeconomic event or geopolitical event that could cause changes.