In my previous Market Thought post 'support', I stated "A part of me believes we will still be in an annoying market, until the uncertainties of the debt ceiling and the Greece report are provided, where direction is dictated by political theater and EU rumors." (These uncertainties come from the 'no boom-boom' post. My titles are awesome :)
Germany was pretty forceful over this weekend with their support of Greece. (And it was about time. The bullshit reports and tit-for-tat non-sense coming out of the Euro Zone was pretty ridiculous.) And tonight the GOP voted against their own make shift $2.4T debt ceiling. (At least now they can say they voted 'against' a fictitious debt ceiling to appease their tea-bagging-party constituents. They are so unproductive.)
These macro uncertainties appear to be waning, and because of this the market player may actually be able to focus on the fundamentals of companies and the overall market. Lets not forget, 2012 estimates is to have the SP500 at an eps of around $104 (as per Goldman). A PE range of 14-15, which is historically low, to the $104 will give a 2012 SP500 range of 1450-1560. With individual stocks still very very inexpensive (a clear example is Apple or Google or IBM or POT or many other names), its hard not to like the market with macro uncertainties becoming more certain.