You can give any reason you want for the rally, but the bottom line is this: the Bernanke/Draghi put is providing support to the market.
There is clearly a concern that some kind of major program may be announced this week by the ECB. I find this unlikely, but the financial press and trading community have themselves in a frenzy about it.
They are convinced something big is coming. (Read more: ECB Bond-Buying Would Not Breach Rules: Draghi)
—By CNBC’s Bob Pisani
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