by Peter Switzer, Switzer Super Report

Europe really needed some help and it got it with six central banks ? the European Central Bank (ECB), the US Federal Reserve and counterparts from Japan, Canada, Switzerland and the UK ? turning on the liquidity tap overnight to help arrest the looming European recession and potential blockages in the banking system.

This, and a solid run of good US economic data, explains why the Dow nearly topped 500 points overnight, but the question remains: can we really see a Santa Claus rally?

Let's have a look at the run of positive data that is getting me a little excited:

• The Beige Book, which looks at regions and sectors around the US economy, came in more bullish than expected.

• The US ADP private sector jobs report came in at 206,000, which KO'd the forecast of 130,000 in November.

• Black Friday retail sales rang up a very positive outlook of the upcoming holiday shopping season in the States.

• These results follow very bright durable goods figures, solid ISM manufacturing data as well as ISM services data and a massive rebound in consumer confidence.