Markets rally hard to start the new quarter

S&P: +47.5 Dow: +391 Nas: +83.7

Markets gapped higher on the open on positive capital-raising news from UBS and LEH and never looked back. Sentiment was bolstered by solid gains in the dollar against the yen and euro, and a concomitant pullback in gold and oil. Financials, homebuilders and real estate excelled.

UYG +12.7%
URE +10.5%
XHB +8.0%
FXI +7.5%
XLF +7.0%

The mood on the street seems almost ebulient. Here's some encouraging technical analysis from AlphaTrends: