The headline writers couldn't keep up with the late day "stick save" as most had stocks down on the day. But, editors got things changed quickly. Bulls want Dow 12,000 and with another round of POMO the easy money is there. It's not just us stating the obvious, Jeremy Grantham's Pavlov's Dog on QE2 essay and even MarketWatch discussed this with " Market Addicted to QE." As far as most are concerned, even Bernanke, B still follows A and one goal of QE is to raise stock prices.

Commodity prices were lower Tuesday as oil continues to slide while precious metals fell. Remember, it's options expiration at the COMEX Wednesday so caution is advised.

Economic data was mixed with home prices falling sharply while Consumer Confidence beat expectations.

Earnings rolled in, and with few exceptions, continued to beat analysts' estimates by wide margins (What do they pay these guys?) 

Volume improved dramatically from Monday while per the WSJ, breadth mixed to negative.

Continue to U.S. Sectors, Stocks & Bonds

If you liked this article you might like

Market Is on the Straight and (Very) Narrow

Look Back to Go Forward

Stock Observations; Reviewing Equities: Doug Kass' Views

Even North Korea's Kim Jong Un Can't Stop This Epic S&P 500 Stock Rally

Robots Might Be Biggest Obstacle for Stock Market Bears