Well, the bearish case seems to be getting weaker by the day. The blowout earnings report by Apple (which, let's face it, isn't much of a shock) is almost certainly going to mega-goose the market tomorrow, and only God knows what Bernanke is going to say or do to propel things further. I am seeing more and more of this kind of story hitting home pages:
I have remained mostly in cash this month, and I'm currently long DRN and JNK as hedges. Everything else is little short positions.
I offer the charts below without further commentary. They simply illustrate what I consider thresholds of various indexes which, if crossed, each represent another nail in the bears' coffin. Maybe they'll be reached; maybe they won't. In any event, they merit observation.