Indexes rose again on Tuesday continuing to recover ground from the new lows of Feb. While the technical structure of the rally is bad, do not underestimate the power of rallies such as these.
The biggest test will be avoiding reversals after new rally highs are attained in the next few days. These markets do not need news to move up despite mindless reasons given for the recent upside. Lack of selling is the main feature and that will not change until the market stalls and, if then, begins to draw in those who believed they had missed liquidation levels earlier.
