The GDP data was, indeed, stronger than the market consensus and that is generally good news for the market.

The unemployment data confirmed the recovery of the Japanese economy.

Investors sometimes go after these leading firms when there are concerns about higher interest rates. In a sense, these are stocks with staying power.... On top of that, their earnings have been good.

It's definitely having an effect .... Foreigners are likely worried about the Bank of Japan eventually ending its super-easy monetary policy. Also some companies did down downgrade their profit forecasts and there are those investors who now see Japanese stocks as overvalued.

Everyone pretty much wants to see tomorrow's outcome from the meeting.

It's hard to tell at this point if the Nikkei has reached a target or if it will climb higher.

There's concern about overheating ... After touching the goal of 16,000, it's now easy for investors to cash in their winnings.

Although the numbers aren't strong ... they don't appear to be a factor on the market at the moment.

This is a reverse from the recent trend of a stronger yen, which had been a concern. I think the stock market is feeling some relief.

A rally in US shares (overnight) led the market here.