SPX: The S&P 500 breaks above 4,330 to hit a 52-week High

"Can't stop, won't stop" are possibly the words of stock market bulls as they break through another barrier, even though interest rates are at their highest level in 16 years.

The S&P 500 is still going up, and it doesn't look like it will stop as long as buyers believe there is more room to go up. The broad-based average hit a new 52-week high of 4,338.93 just one week after hitting a new bull market low in October. Why is the protest happening, and can it last?

Most of the amazing run is based on a positive view of the US economy. Fears of a recession are slowly going away, and investors expect upcoming data to confirm what prices already show: that the Fed will hold its rate campaign as inflation dies down.

This week, the Fed and falling prices are the most interesting things. The main way to measure inflation, the consumer price index, which will be released today, is projected to come in at 4.1% for May, down from 4.9% in April. Also, Fed Chairman Jay Powell will speak about the interest rate choice on Wednesday.