One of the truisms of Wall Street is not fighting the tape, and right now the tape is looking bullish. Although I continue to have serious doubts about the longevity of this rally it's hard not to be impressed with recent market activity. The S&P 500 is up about 30% from its March low and that is a very strong showing in such a short period of time. Futures are looking up again this morning and stocks look headed for another winning session. In sum, don't fight the tape, but still proceed with caution.