This is the time of year when companies report their annual earnings, making market surges common, but uncertainty has loomed for months about the market reaching the 'psychological' 10,000 mark - a level it first reached in 1999. It's worth noting that this year's national GDP is 14 trillion compared to 10 trillion a decade ago, signaling substantial growth in 10 years. This growth is however offset by debt and borrowing--which has DOUBLED since '99--and when adjusted for inflation, the market is down about 10% over the decade.

Any growth is overshadowed perhaps though by the unstable future of the dollar, as this rebound could be a 'V' shaped recovery in which 'reflation' turns into inflation. There's a lot of rumbling on 'The Floor' right now amongst brokers about various limitations and taxes imposed by the Obama administration that hinder activity and trade, i.e short-sale limitations and other regulations. But the era of 'supply-side economics' vs. 'Keynesian economics' is over, as Wall Street undoubtably supported this President and his 'Keynesian' market theories. We're still recovering from the housing and credit bubble created by the 20 year Greenspan era.

However, if/when America approves a nationalized health care system, it's likely that the upper-level tax rates for investors and businesses will increase from 35 to 40 percent, which could deter companies from investing in new business growth and job creation.