There are fundamental, technical and historical factors that drive U.S. equity prices. Earnings and interest rates have very clear fundamental impacts. The Fed has done everything in their power to keep interest rates at historically low levels in an attempt to promote growth. We could debate back and forth how successful they’ve been. I would argue that the low rates and cheap money have absolutely been beneficial to the bottom lines of Corporate America, but rates could be at the beginning stages of an extended advance. That’s where technical indicators come into play.