Over the short term the market looks vulnerable to a correction. The last couple of weeks of bad economic news have been neglected because the bulls are hoping that Ben Bernanke will very soon set the market afire with a new batch of quantitative easing. We have entered a mind set of perverse logic:  The weaker the economic figures the better, for they increase the chance that liquidity will once again flow abundantly. It is important to see the historical pattern here. A lot of the problems of too much debt in the system we are having today are due to the Greenspan put, now we have the Bernanke put (if the economy remains weak I will buy more assets.)