TraderWise

Yesterday, the market continued to march higher and it established a new high for the year. Economic news has been light and there is nothing to stand in the way of this rally. Solid earnings, strong balance sheets and low-interest rates will fuel this rally. Every analyst on CNBC is bullish. The VIX has dropped down to two-year lows and confidence is high. The global credit crisis has been completely discounted and traders will need to see concrete evidence of a failure for this market to roll over. Consumer sentiment dropped slightly in February and retail sales were mixed.