Investors who thought they might find some correction fodder off the latest Federal Reserve deliberations got just the opposite Wednesday from a market that seems unwilling to process bad news.
Minutes from the March Fed Open Markets Committee meeting showed some of the strongest dissent yet over the central bank's money-creation machine. The central bank is using the fresh funds to buy $85 billion in Treasurys and mortgage-backed securities, despite concerns over future repercussions.
But while members contemplated a future exit, investors instead figured the poor batch of economic data released since the last meeting would change dissenters' minds and keep the market rolling past its record highs.
Consequently, the 2013 rally just kept on churning, leaving questions over whether squeamish investors ought to head for the sidelines or finally join in the party.
(Read More: Some Fed Members Fear Monetary Policy Effects)
"The market right now is in default mode, which is to go up," said John Canally, investment strategist and economist at LPL Financial. "We've been in the opposite situation in 2008 and 2009 where all news was bad news. In this market, pretty much any news is good news."
In many eyes, the stock market runup—which has seen the Standard & Poor's 500 and Dow Jones Industrial Average gain more than 10 percent apiece and reach new all-time highs—is tired and in need of a pullback before climbing higher.
But actual calls for playing defense are getting scarcer as the bull market appears to know no barriers, whether it be poor economic news like Friday's jobs report, the potentially contagious debt crisis in Europe, or any of the other threats that have pulled the market down in the past.
(Read More: Stocks Surge on Fed's Promise to Battle Weak Economy)