We're still down 25% from the highs set only 3 years ago. I wouldn't exactly call that "enthusiasm." People might be dipping back into equities, but the overall mood still looks cautious to me, not enthusiastic.
It's based on the hype that the Fed will give more stimulus to states....that's it.
Very confounding when you believe that fundamentals are weak...ALSO AND MOSTLY...the Euro/Dollar movement...Euro higher and markets go up....still connected....still, charts say that we are rolling over....week to week, earanings high, stimilus is endless, US debt doesn't matter because they know that GIANT NEW TAXES are on the way after Dem's hold the house! Still, treasuries and technicals say we will sell off at this level...I feel your pain...LIES about jobs, LIES about GDP, as evidenced by backward revisions, are working for the markets during this hour....it shouldn't, but it is.