Last week was positive for worldwide markets. The majority of worldwide markets closed up for the week. The FTSE 100 actually made a new closing high since the March 2009 lows. Other indexes like the DJIA, S&P500, NASDAQ, and the Bovespa are not too far away from making new highs as well. The evidence at this stage points to markets moving higher. The markets themselves are not giving off any bearish signals. The sharp plunge that started in January looked as if it may have been the start of something more, but February action completely took that bearish scenario off the table. The only problem is that many of the stocks that are outperforming in this rally are not having long enough consolidation periods (my opinion) to make initial entries with a high degree of confidence. I feel at any point this market could turn down, but a rally that has lasted for 12 months is clearly more than just a bear market rally. Something else is going on here, and I am not quite sure what it is. Can the market really continue going up at the pace it is? Can the stock market completely divorce from the real economy, which are in shambles in all the developed economies? Is all the negativity and pessimism overdone and a new bull market has begun, stealthily? My experience tells me that all markets correct SOONER or LATER, and this market is no different than any other. The highly anticipated employment report came out on Friday. It was better than expected. It’s getting difficult to tell reality from fiction these days. The housing market is not recovering, contrary to what any tv pundit will tell you. Informed individuals were saying that commercial real estate was the next shoe to drop 2 years ago. It seems as though it may be time for commercial real estate to take center stage in the headlines.