bear market rally or sustainable support?

There are so many balls in the air at the moment that it is becoming more difficult to suggest the direction of the markets.

My clients are feeling more confident and there is a general air that people in general have had enough and it is time to get on and get to work.

This sentiment is confirmed by the Baltic Dry Index (BDI) flying, so where's the demand coming from??? Most obvious direction is the BRIC countries and the most noticable being China.

On the opposing foot, the heartache of the US and European financial system continues to linger and the markets reaction to Geitner's $820Bn stimulus package seems to suggest that the market is not happy with the lack of detail provided and hence the market believes that only time will ail the problems.

Is this all part and parcel of the Power shift to China? As Australian investors... Do we start to take less interest in the US and focus on Asia for Sustainable Support or is this simply a Bear Market Rally?