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The S&P 500 Index had a stellar day as we broke above the 1440 level. This was predicated on the idea that the Federal Reserve announced a stronger than anticipated easing program, and is expected to hold onto this program until after financial recovery begins. This essentially gave the "unlimited" money signal that the market craved.
With this in mind, it looks like the S&P is poised to go much higher through the rest the year. For the short-term at least, it absolutely impossible to be bearish the stock market area with this in mind we are buying dips that suggest support. Quite frankly, if you're a longer-term trader you can probably just go ahead and buy now.