The perfect mosaic continues; as mentioned late yesterday surely this morning retail sales would come in better than expected and we'd be up in premarket.  As each level is cleared, one expects at some point to have a nasty reversal but more and more people will pile in.   So as outlined yesterday in [What's the Potential End Game for this Move] the last of the holdouts will be throwing in the towel, and as the Fast Money guys on CNBC said yesterday "if either (a) OR (b) happens we

Chart of The Day: "Today's chart illustrates how the recent rise in earnings has impacted the current valuation of the stock market as measured by the price to earnings ratio (PE ratio). Generally speaking, when the PE ratio is high, stocks are considered to be expensive. When the PE ratio is low, stocks are considered to be inexpensive. From 1936 into the early 1990s, the PE ratio tended to peak in the low 20s (red line) and trough somewhere around seven (green line).

Working gas in storage was 1,626 Bcf as of Friday, March 5, 2010, according to EIA estimates. This represents a net decline of 111 Bcf from the previous week. Stocks were 71 Bcf less than last year at this time and 19 Bcf above the 5-year average of 1,607 Bcf.

Bulls kept bears out of the game for yet another day as the rally powered higher. Small Caps built on their leadership (note relative strength to the Nasdaq) as the MACD trigger line climbed to new 6-month highs. While markets may not necessarily head down tomorrow bulls should be looking for a test of the 20-day MA before another challenge of highs is made.

Advancers Outnumber Decliners Solidly As Tech Sector Provides Leadership-
The major averages ended higher on the tenth anniversary of 2000's dot-com bubble. Volume totals were reported mixed and very near the prior session totals; slightly lighter on the Nasdaq and slightly higher on the NYSE. Advancers led decliners by a 2-to-1 ratio on the NYSE and by nearly a 2-to-1 margin on the Nasdaq exchange.