The odds may have been a bit stacked against stocks heading into last week, but the market clearly overcame them. All told, the S&P 500 (SPX) (SPY) gained about 1.7% last week, crossing above some key moving average lines in the process, rekindling the bigger-picture rally.
Can it last? There are certainly some hurdles ahead, not the least of which is the market's valuation, which is getting a bit frothy by some measures. Higher highs are not out of the picture though, because[...]