suckers rally

Nouriel Roubini, a somewhat contrarian, but well-credentialed and (IMO) level-headed economist, reckons this is a sucker's rally.

I like his logic. There is very little in the way of good news coming from the US economy at the moment.

The Bernanke Put and the Last Legs of the Stock Market Sucker's Rally

[Even though I try and do technical analysis as evenly as possible and take day-to-day market action for what it is, I still always consider fundamentals. Fundamentally, I don't like what's happening to the US economy at the moment.]