compare the SPEWI to the S&P capitalization weighted index. that shows you the story. this is a value rally. traders are still in the go-go 90's tech mindset
If the PPT really has stepped in to put some bids in the market, at some point don't they have to sell? Interesting how the M3 is no longer reported. So not only do you have unlimited downside as a short, you aren't even playing on an even field.
Article on the PPT moving into everything to prop fiat currency bubble. http://www.safehaven.com/article-6384.htm