For the first time in over two years waning momentum moved stocks higher, not lower.

What, last week, looked like a market ready to roll over, looks today like a market ready to lurch through record highs in the coming days. Truly remarkeable. Just two months ago the stock market was plunging, the $SPY was at $180. A recession was assured. Today the market is saying things aren't as bad as everyone thinks.... right? Or is it negative interest rates and central bank corporate bond buying that's forcing even more cheap money into the stock market?

The break of long term trendline resistance is just another confirmation that this market wants to head higher. Wow. I don't quite believe I just wrote that.

Could this just be one massive pump fake? Getting market participants to jump for higher prices before ramming a nasty sell-off into the basket?

Or are we on the cusp of another bull market type ascent. One that breaks the 1.5 years of consolidation?

Have the Central Bankers finally fired enough bullets to stimulate real growth and inflation? If that's the case why is the FED so hesitant to raise rates?

And if the FED ever does raise rates, what does that mean for the massive debt bubble that has been blown? The market doesn't seem to care right now. Or perhaps it knows that rates will remain low for an extended period.... like... forever. Or at least until the massive debt bubble required negativer negative rates to sustain itself. At which point NNIRP will lose its effectiveness.

A New Bull Market? Or Just one Big Pump Fake that will see stock prices fall to 2016 lows and beyond?

What do you think?