Look at a chart of the S&P versus GS. Very close correlation in this current environment. Short at your own risk, the major short sellers are losing stocks to drive down after this week's earnings. Look at GOOG, AAPL, RIMM, INTC, MER, JPM, lots of stuck shorts. If they can't push down the market leaders, you will bet they will be scrambling to get out driving this market higher.