Ben Bernanke spoke to the media recently stating that the Fed sees signs of improvement in the economy and will continue with the QE2 program started last Nov until its completion in June this year. Giving solid reason for the markets to continue with the rally which was beginning to weaken somewhat towards Mid April.
Earnings have come in stronger yet again which on the fundamentals side should get the "investors" into action as the PE multiple of the market is still quite low.
While, geopolitical events have continued to hit the tape the overall stride of the market has been forward brushing off most of the dire events of the first quarter.
As of the moment we have breached the highs of 2008 on SPX, Nasdaq, Dow and RUT, this might be an area of some hesitance but if it moves beyond we might have a decent move upward, with the fib extensions and all that.
Apologies to readers for another gap. I'll be more active going forward.
