What is going on? Well, jobless claims are down, Proctor and Gamble looks good, the 30 year bond is attractive, and oil is up.
The quote I have posted below from the linked Reuters article is the most optimistic one I've seen yet.
My own personal sense is that a Fall correction may not be severe.
Reuters: Wall Street gains for 5th day on upbeat company news
"There is no selling pressure in this market. You see more believers in the market, more bullish sentiment and people are starting to believe that this rally is real..."
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