The fundamentals for the US market to continue its rally are still in place. Buybacks were a huge component for driving US stock markets post the financial crisis. They look set to continue for the remainder of the year.
Money supply has been growing.
This is unusual. Money supply tends to have a downward slope in week 23 of the year. This could possibly be due to the fed having the IOER lower than the effective fed funds rate. Either-way, this is bullish for stocks. The inverted yield curve is cause for concern, but no signs of stress are showing up in the data.