A strong lead from the US should now really put the immediate bears back into their cave. The October 25 highs, the level at which we gained confidence that higher prices would be seen, have now been well and truly surpassed. We’re on our way to the 5000 target over the coming months, although longer term we do not see this as a new bull run, but rather the second leg of a much larger degree corrective pattern. As has been suggested over the last month, there is simply no reason to be looking at short side trades and every reason to be fully invested.