Most of the time, the U.S. stock market looks to 3 factors to support its upward trend – let’s grade each of the factors:

CONSUMER SPENDING:  I grade this factor a C (neutral).

THE FED AND ITS POLICIES:  I continue to grade this factor an A+ (extremely favorable) because the FED cannot do much more than it is doing to support the stock market and asset prices.
 

BUSINESS PROFITABILITY:  I graded this factor an A (very favorable).   Many companies will be reporting their profits to the public shareholders in the next 4 weeks – companies reporting their earnings last week exceeded expectations, on average.  We will continue to monitor this very closely for the next 4 weeks.