Stocks recouped Friday’ s losses a little too easily yesterday, raising the possibility that the main source of buying — i.e., short-covering bears — is too spent to push stocks significantly higher in the days ahead. New record highs are coming, that much appears likely. But look first for a week or two of delays while investors do their best to pretend weak Q1 earnings don’t matter. They’re right, of course, since it has been the Fed all along, through myriad proxies, that has been the main driver of higher share prices.
