Let me get this straight, the republicans came out of the negotiations, said that "there willing to compromise" and the S&P pops 15 dollars. What did they think they were going to say, "screw that curious george looking mother F**@er". I understand that the markets hate uncertainty and a reassuring comment eases the investors mind but only a fool would buy now. First of all there are still mounting pressures in Iran, Europe, a ludicrous national debt, and many many more underyling issues. This whole "fiscal cliff" is just a coverup for the above issues. Were in bear territory and it acually makes me happy to see the bulls come out for there last hoorah.
Secondly even if the fiscal cliff is the main issue, which its not, then its still going to be in favor of tax hikes, Obama will not negotiate on the cap gain increase.
Market correction is just starting, and its a LONG way to the finish line.
Pelosi's quote "I feel confident a solution may be in sight". Thanks Pelosi