Market Outlook

Friday's strong close is a clear sign that the game has changed (in case it wasn't clear to you earlier). If we were still in Bear mode, they've have sold it down, just to reduce risk.

That they didn't indicates that money is flowing back into stocks.

It's important to remember that a ton of money has been sitting on the sidelines and money market funds have huge assets in them. More is coming too. Meanwhile, MM funds are paying less and less.

That's a prescription for a bigger rally than many assume.

I'd not be surprised by some selling, but the trend is now up, though within a technical Bear. We'd do well to give the Bullish case a bit of respect here.