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Fear and greed. The financial bomb almost hit the banks and Wall street, but didn't.
Debt is huge but that stimulus was abolutely necessary. What happens after its gone remains to be seen.
Major indicators continue to improve, GDP, Core CPI, Treasury yields, PE Ratios, unemployment and the Long term trend is still up. Nevertheless, we are still in a recession. Your fear is understandable.
When market writers and investors all think the market is going up, thats the time to think about selling. And when everyone thinks the sky is falling, buy.
Until then it's a mixed bag. However, you cant deny the power of this rally since last March.
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