The Market Trend Model (http://bitly.com/M_Trend_Model) aggressively moved to a positive bias this week as the major indices went into a v-shaped recovery on the not so new news Janet Yellen has no exit plan for the unprecedented easy money policy of the Federal Reserve.
Also contributing to the market euphoria this week was a stabilization in oil prices. It seems market participants finally came to the conclusion lower energy prices are a net positive for the U.S. economy.
At the moment it looks more and more likely the Nasdaq will move higher with its sights set on its all time high set back in 2000. For now it appears both stocks and hemlines will rise into 2015 (http://en.wikipedia.org/wiki/Hemline_index).