I'm in awe of today's session.  It’s very encouraging. The signs pointed to this happening, as the market exhibited increased resolve last week until Friday and every day this week.  

Big business, especially Boeing (BA), are benefiting from the bailout package.  Multinational names are also breathing a sigh of relief, as the dollar comes down against other currencies.

It’s still the most beaten down names which continue to outperform (oil and cruise ships) and top the list of percentage gainers.  It’s particularly interesting considering crude oil is down today.

• Occidental Petroleum (OXY)
• Carnival Corp (CCL)
• HollyFrontier Corp (HFC)
• Norwegian Cruise Line Holdings (NCLH)
• Valero Energy (VLO)
• Royal Caribbean Cruise Line (RCL)

Because these names keep leading the way, Wall Street keeps calling for a re-test of the lows.  Oh, also because most of the experts missed this rebound.

Volume is lower today than the prior session and trading feels more orderly – there isn’t buying panic just yet, as the experts are waiting for the next pullback. 

For the reminder of the session, its important the S&P closes above 2,571 and makes a run to 2,711. I do want to note, this move doesn't mean downside swoons are over, but it proves this market can soar, which is important to remember.