i don't believe in any of those market rising crap. It's just merely a bear market rally and nothing more. The economy is not improving, those better than expected economic data was only because the consensus were so low already, but the data is still bad. Jobless claim is at 26 years high, come on.
All that we are buying now are junkies. Only the big blue chip will survive and stand. IBM MSFT etc.
When VIX gets back into mid 40s, market will come down. When VIX goes back to 50, a lot more selling coming our way. If we can't break thru 8,050, then this rally is over. Next resistance is 8,440. If not, market will slide back to 7,500 (very strong support BTW)
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