. >> joining us now is james barty, with us the best part of the rest of the hour. james, thanks for coming in. we'll get your view here of these moves we've had on global stock markets. we had richard cunningham this morning on his technical view. we've now broking through to the upside and he now says essentially the bear market is over. what do you think? >> i completely agree. i think it was about six weeks ago on this program i said i thought this was going to be the principally that would break the back of the bear market. i think that's what happened. yesterday was literally the last gasp for the bearish technicians. when we took out 950 on the s&p, that was it. the head and shoulders that everyone was focused on two weeks ago -- >> failed. >> completely blown out of the water. to my mind, this rally has always looked different to us. >> why is this different? what's underpinning it? >> if you go back to march, there were two things we were looking for at that time. it was recapitalization of the banking system and stabilization in the macro data. i think the