Stocks are headed sharply lower in early trading, as markets tanked overseas overnight. Stocks have basically been moving sideways for the last few weeks after a furious rally that started in early March, and now lots of folks are wondering if this is the end of the rally for now.

In the absence of good news, it's hrad to see why stocks would keep going higher, though even without "good" news, some kind of sharp snapback probably inevitable with the doomsday scenario having been taken off the table.

Still, the market has two trends pushing it higher: A tremendous amount of money creation all over the world (that's probably the big one) and on a smaller scale, there's the issue of money managers wanting to show some kind of exposure to the rally before the quarter ends.