Financial markets

Is the glass half empty or half full?

With the US markets having rallied since March, up between 22-33% it would seem that this bear market rally maybe coming close to an end. On the earnings front corporate earnings are still mixed negative sentiment seems to be diminishing and many companies are now meeting their consensus forecasts. It would seem that commentators are saying that with the financial stimulus that Governments are injecting into their financial systems and a slow down in the price depreciation of house prices, maybe reaching a turning point or a bottoming in the markets?

Bust with the real economy still loosing jobs and economic indicators still registering negative GDP and output growth is the market too optimistic?
The big question is where does the market go from this point, will it look through the negative sentiment and continue or will the real economy bring it back down to earth with a big correction?

It is my opinion that a correction will happen, and that this will be the final correction. The final correction in this current market cycle, the first correction happened in September through October of 08, and the second with a December rally. The second correction ran through February and March. The final correction will be shorter one and I only see a 10% correction in this one. I anticipate this will happen before September and then the market will finally begins to continue its next growth phase.