-Large-scale financial failure was still on the board. In my opinion, those fears have eased.
-Sentiment was very negative. The fact that stocks have now rallied this far will likely bring out more people willing to buy on the dips.
-Some economic indicators have slowed or stopped in their decline. This isn't a strong case for me, as employment is still weak, and the consumer is still in trouble.
Here's an interesting video with David Rosenberg via Bloomberg on this debate.
I did say a couple of days ago that I'm more bullish than I was, and that is true. I will look to buy more stocks if I get a chance at better prices. But I need to see more on the positive side economy-wise before I can say we're in for a sustainable move higher. Any opinions out there?