“Davidson” submits:

Real Retail and Food Service Sales reached an new cycle high despite most believing a recession was imminent. The economic evidence indicates there is no recession in our immediate future, i.e. 12mos-24mos. This report has caused a shift in market thinking that GDP is growing faster than assumed the past 6mos. Gasoline a component of Retail Sales saw lower prices this past month and despite this negative input Real Retail Sales hit a new high.

We should see equity prices rise once enough investors swing towards a more positive outlook.