I think a bull needs to see the banks -- Bank of America (BAC), Wells Fargo (WFC), JPMorgan (JPM) -- roll back the gains somewhat and then surge forward.

I think a bull needs to see the banks -- Bank of America (BAC), Wells Fargo (WFC), JPMorgan (JPM) -- roll back the gains somewhat and then surge forward.

I think a bull needs to see the banks -- Bank of America (BAC), Wells Fargo (WFC), JPMorgan (JPM) -- roll back the gains somewhat and then surge forward.

You need to see this because that means the usual leak receivers from Geithner know that he's going to certify that there are no more Lehmans and that he sees Citigroup's (C) Tier 1 capital as more than abundant. A rally in the financials means that the uptick rule will be reinstituted and mark-to-market lite is returning.

Bulls need to see tech go up again, though, because you want the National Semis (NSM) -- bad -- to not be the takeaway, and you want the Hewlett-Packard (HPQ) upgrade to be "right."

Bulls need to see tech go up again, though, because you want the National Semis (NSM) -- bad -- to not be the takeaway, and you want the Hewlett-Packard (HPQ) upgrade to be "right."

You need two leaders here -- tech and banks -- and you cannot have the leaders be just commodity plays, because we know how that works out. A market led by Mosaic (MOS), Agrium (AGU), Freeport (FCX) and Conoco (COP) is a market that ultimately gives up its gains, but a market led by Bank of America (BAC), Morgan Stanley (MS), Google (GOOG), Apple (AAPL) and Qualcomm (QCOM) has something worth following.

You need two leaders here -- tech and banks -- and you cannot have the leaders be just commodity plays, because we know how that works out. A market led by Mosaic (MOS), Agrium (AGU), Freeport (FCX) and Conoco (COP) is a market that ultimately gives up its gains, but a market led by Bank of America (BAC), Morgan Stanley (MS), Google (GOOG), Apple (AAPL) and Qualcomm (QCOM) has something worth following.