So what explains today's big rally, with the Dow now up ~200? Apple is rebounding, but its fall yesterday didn’t hurt the broader averages much. Banks are cranking up the dividends, but earnings are mostly lower Y/Y. Spain auctioned off short-term debt, but it had to pay through the nose. Maybe it's technical, as the S&P moved above its 50-day MA, or maybe it's history: stocks typically rally after Tax Day.