The S&P finally broke 1000 points but the question remains as whether it is sustainable. There is still some resistance in the early 1000's and if the market can break through, there may be more upside remaining.

The indexes all rose dramatically today following Wells Fargo's surprise earnings. The Dow was up 3.14%, S&P500 up 3.81% and NASDAQ up 3.89%.

Today is Good Friday. The Christian church commemorates the crucifixion and the burial of Jesus. I wanted to read some opinions about Good Friday in Twitter and few stood out that I will share here. They are related to stock market and working. One person says I work on Good Friday when even the stock market is close.

In a story published in today's Seeking Alpha author Ryan Vanzo presents his view of ten reasons that we should not trust this bear market rally. While the author says he likes the bear market rally he thinks this is not the bottom yet.

The Wall Street responded very positively to Obama Geithner's bank rescue plan and Dow Jones Industrial Average jumped 497 points ending the day at 7,775.86.

The U.S. stocks are continuing the rally for the 5th day in a row. Last night's good news that came from the Federal Reserve's chairman Ben Bernanke helped to inject hope in the investors as he said that the U.S. economy will turn around this year and the following year will steam the economy.

The follow-up of the U.S. stocks after the biggest gain in months was only modest and short lived. However, Citigroup that yesterday pushed the rally is still doing good today. However, investors took some profits today as faith is still lacking about the economic recovery.

Today is a day in the U.S. stock markets that many investors and market analysts were waiting for a long time. The markets are back from mult-year lows Dow Jones and Nasdaq are recovering with a strong force. Financial stocks and the industry that have started this economic downturn contributed to the recovery. What went right today?

It used to be that after a particular stock dropped into the single digits, investors just stopped caring. The company was delisted from its corresponding exchange and relegated to the indignity of trading on the pink sheets. Then, maybe seven years later, some headline declaring the company's bankruptcy would hit, you'd scratch your head and say "Hmmm. Didn't that stock used to trade at $70? I can't believe it took them this long to go bankrupt" (i.e. Lucent).

It is now seven weeks of a bad stock market that has dropped the DJIA to new bear market lows. Our stance since Nov. 20 has been that the lows were seen and the market would thus start the bottoming process. In hindsight, our timing may have been too optimistic and the bottoming out for the bear could start somewhat lower.

On January 20th of 2009, as the now president Barak Obama takes the office and inherits the markets in a very bad shape, the trading session was deep in the red as the overall market sentiment turns bad on financial. Financial sector took a hard hit as the recent RBS, Royal Bank of Scotland (RBS.L) had announced the largest loss in UK corporate history.

U.S. stock markets rebound despite the grim economy and are again in the green zone towards the end of the day at the closing. Once the Dow hit the 8000 points today it bounced back and now at 3PM is about 25 points positive.