Dow breaks 9000, but is this a bear market rally?

With the Dow Jones Industrial ($INDU) average now back above 9,000 for the first time since early January, you may wonder if the market has finally turned around in earnest or if this is simply a bear market rally.

The Dow has had an exceptional rally this year. It is now up 34 percent since its low in March, and today alone the Dow is up about over two percent. Fueling the rise today was the news that existing home sales were up 3.6 percent in June. Adding to the good news: a slew of positive earnings announcements. But should investors be cautious?