Art Cashin on CNBC

Points out that sentiment for the bond and stock markets were pessimistic due to tapering at the beginning of the year.

He’s especially encouraged that stocks moved solidly above technical resistance levels. “No more tiptoeing around. We cleaned out not only the closing high yesterday—now we’ve made an intraday high again today.

S&P 500 Monthly Review February 2014

The monthly chart for the S&P 500 is showing another high and a close above last month’s range. February lows were bought in the first week and continued to rally into the end of the month.

This is also the first monthly close above the opening range.

The monthly outlook is  bullish.