The market is in a pretty good spot right now. The Fed has proved that they are ready to step in right away if needed. So anytime we get negative economic data, which seems to happen about every other day, stocks respond well because people expect another rate cut. When we get positive news, like GM (GM) yesterday, the market rallies strongly. The only scenario I see for stocks going down in the short term would be what I would call a "shock value headline." For example, if a major bank was in big trouble, or a terrorist attack occurred. Something of an unpredictable nature that would make investors respond with fear. In any event, this is pretty unlikely. Because of the cushion of a rate cut if things go bad, investors are becoming more and more confident.
Nice to see Chevron (CVX) announcing the big share buyback. 15bil seems like an awful lot though. Seems there could be some other ways to spend some of that cash. But it is positive for this company that I've been bullish on ever since I started this blog.