Path to least resistance is Up.
That is true for stocks as well as for Oil, Gas, and other Commodities like Corn, Cotton, Sugar, Gold, Silver, Copper,
Why? The Fed. minutes yesterday suggested that the Fed. will continue QE2 all the way to the End. Many bears were making bets that the FED. will end QE2 early, possibly in April. That is now out of the question and the Bears are covering their wrong way bets.