There is more talk of the Facebook IPO coming out this week, perhaps on Wednesday.
If this is the case the Street will prop this market up to get that IPO priced and out the door, barring any unforeseen events from Europe.
“'Simon, Simon, behold! Satan has demanded permission to have all of you, to sift you like wheat. But I have prayed for you, that your faith may not fail. And once you have returned, you must strengthen your brothers.' And Simon said, 'Lord, I am ready to go with you, to prison and death.' Jesus answered, 'Before the cock crows, you will deny three times that you even know me.'" Luke 22:31-34