We got a pretty good increase in volume today, so it could be that the big boys were waiting for a catalyst to move the market. The Basel whatever it was over the weekend (an international agreement on rule for banking, as I understand it) was supposedly the reason for today's rally, and leadership by the financial stocks bears that out. However, the Nasdaq also took a pretty good lead today, and may just be reversing the relative weakness it has been suffering through the last few months,
It's possible that the volume we have been waiting for fianlly started arriving today. If so, then the prognostication is bullish, as the market once again believes the all powerful Central banks of the world will save us once again. Or they will just paper over th problem like they have been doing, leaving it for the next batch of politicians to deal with.
I will have the new highs update shortly.