The steady up move in stock prices without any normal correction has forced many bears to give up or turn bullish. The surging volume late in the session of the past two Fridays suggests capitulation among the short sellers. The short covering process, coupled with a lack of sellers, could propel stocks higher. The S&P 500 is likely to take aim at 1700 while the Russell 2000 small cap index makes a run at 1000. With that said, stocks are overbought on both the short term and immediate term basis. Some pullbacks won't be surprising.