Outlook still positive for markets

Is the outlook still positive?

From a technical perspective markets appear to have momentum at their backs. North American markets are all trading above their 50 day moving averages and have been for some time now despite some disruptive geopolitical and economic setbacks. We still expect markets to produce positive returns in north America in 2011 but not as inspiring as 2009 and 2010. Dividends will likely make up a meaningful contribution to total returns.