Market Levitation

I am quite impressed how the market has held up.  Europe is in near daily crisis.  Recession is basically recognized by most to be in the cards, but not yet official.

Manufacturing down, profit crappy.

Through all this the market levitates.  It's hard to imagine, but the correction may be over?
I remain cautious into February.  I think by then we will have our answer for 2013.  By then, the US fiscal cliff buzz will be resolved, and the markets levitation resuming.

Chart for perspective, with the long term weekly below.

I am removing my bear on my blog, and refer back to my October 1st post 'Getting out of the Market'.