The Bull Market Comback?

Are we in a comeback? After what we saw in the market today, I'm sure a lot of people are hope full. After all, $1 Trillion is a lot of money. Is it enough to stimulate out of recession?

We are seeing signs of comebacks, but I wouldn't say 100% we're out of the woods. Keep in mind that I speak technical, not fundamental analysis. When I think something may occur, it's usually from what I see in a chart and not in the papers.

First, I made the assumptions that the market would go down due to a few indicators:

1) We saw consistent rally for several days, bouncing off a new low, in an existing downtrend. This was confirmed by a sell off last week.

2) We were between 20 and 50 day moving averages, and appeared in a great spot to sell off.

3) Secondary indications of an overbought condition.

4) Price was hitting an established ceiling.

However, as we saw, the market went UP. First rule of trading, know you are not perfect. Check. But now we know this information, let's see the case for a bull run:

1) Breaking the new barrier. That ceiling we were testing is now being broken, and we could have entered a new price band.

2) Commodities. I notice how commodities are looking like they are struggling to maintain their trends. This could indicate confidence flowing back into the markets.

3) Volume. Generally positive volume, and not really decreasing.

Although I think I made some valid points, I feel overall that traders are still undecided. The next few weeks may establish where the market may go. If we see a trend change, I'll be sure to tell you.