While in a 3 day upswing now (S&P 500) the secular trend is down and has been so since the beginning of February. Yes world markets in equities have stabilised, meaning they have stopped their precipitous falls of February and March, but they have not reinvigorated with anything like the bullishness prior to the beginning of February. Keep in mind that the earnings report season has been overall a big hit with firms reporting healthy and above expectation results, most of which the markets have largely ignored. The central banks (the nexus of government and commercial banks), have been slowing their stimulation in the form of buying bonds from the public. Called Quantitative Easing, aka money printing, has been curtailed completely in the US, and is being cut back in Europe. The US interest rate is on the upward march. The new tax plan for the US relies heavily on the worlds lenders to finance the largesse. All of this indicates higher expectations for inflation which has negative effects on the stock prices.