For now, it appears that the market has moved past major catalysts and game changing events related to the Federal Reserve, the European debt crisis and increased volatility.

“The market is moving one way right now: up,” said one proprietary trader based in Chicago.

The bullishness comes as major stock indices hit highs unseen since before the 2008 financial crisis. After an announcement on Tuesday by the Federal Reserve that essentially guaranteed the current low rate environment through 2014, The Dow Jones Industrial Average cruised above 13,100 with the Nasdaq following suit, closing above 3000 for the first time since December of 2000.

With Bernanke and the Board of Governors assuring investors that they won’t see decent yields in stored in Treasuries, money market funds or short-term growth securities, institutions essentially gave up fighting the bullish trend of the market that has casually bled through over the past six months. Investors have no choice but to pile into riskier assets such as junk bonds and equities if they want any sort of return on their capital.

Though most investors feel that the upward momentum is bound to continue, others are keeping expectations low and not getting their hopes up. “I don’t buy this rally or anything else- everyone has been sitting on their hands since September,” a NYSE floor specialist who preferred to remain anonymous. “The VIX broke through 14 for the first time in god knows how long. The news out of the Fed had almost no change in volume and NYSE volumes continue to decline month over month.”

Financials got a boost from early indications of stress test results, with JP Morgan announcing a stock buyback before the close of the market on Tuesday. Much jubilation was found on Twitter with @Mckonemy saying: “#Fed gets upstaged by $JPM, which jumps the central bank announcement on stress tests and announces stock buyback. $BAC and $USB join in.”