You hear it all over: "The bull is back, long live the bull." It's as though we're seeing the building of a new legion of believers who are convinced the worst is practically over which any thinking individual knows isn't case).
In short, the will of 80 percent of Americans can be thwarted by representatives of 20 percent due to a quirk in Senate rules. I'm pretty sure that's not what the Founding Fathers, or anyone, had in mind.
The spreading bullish fever is easy to understand, given the market's blistering performance -- up nearly 70% since its low of last March (about 6,500 on the Dow) -- a nine-month rise that has been devoid of any meaningful interruption along the way.