There are a lot of good things going on for equities ... corporations are full of cash right now.

There are a lot of bargains out there in large-cap growth stocks.

It looks like yet again we're going to get a quarter with higher-than-expected earnings. Earnings guidance has been positive, and that always helps.

It just so happened that we had a number of big-name, negative reports come in to start things off, and it just went from there. Turns out that wasn't indicative of where things are. Earnings are very strong.

The market has focused on disappointing earnings or disappointing guidance about future earnings of just a handful of companies. When there's any hint that we're at the peak of earnings growth, the market gets pummeled.

People are feeling better about the economy and job prospects. Things are really looking pretty good.