Things are looking good for the Australian sharemarket, with the Reserve Bank looking to cut rates in the coming months, commodity prices still finding support across the board while positive news on the US economy means that investors' appetite for Wall Street is flowing through to our shares.
On Friday, the ASX 200 managed to close above 5400 - an important psychological level and an 11-month high. 
Materials and energy stocks have played the largest part in the ASX 200's recent run, particularly post-Brexit. Gold has been the frontrunner, with investors piling into gold stocks either as an inflation hedge or as a safe haven asset.
"After Brexit and the botched negative interest rates, uncertainty in the world has gone up a couple of notches," said Damian Boey, equities analyst at Credit Suisse. He points out investors in the Asia-Pacific region are likely to be turned off equities and will come looking for yield in the Australian market. "Chinese equities are priced for almost zero returns over the next 10 years and the same can be said for Japan and perhaps Taiwan," Mr Boey said.
"So non-financial equities in Australia are looking attractive and a lot of them have US dollar exposure. So you get a bit of a double whammy and we end up being a bit of a safe haven, which isn't a bad place to be."
But what else will take the ASX higher?
US earnings
With the S&P 500 at new all-time highs, investors are piling into Wall Street and as we move into US earnings season, Australian shares may receive a boost higher, particularly if US financials outperform market expectations.
The US economic recovery has been buoyed significantly in recent weeks. Confidence seems to be improving, with strong retails data for   June showing Americans are spending more in the services and housing sectors. While inflation missed expectations, an improving jobs market and a lift in market sentiment bodes well for companies ahead of the earnings season.
"The sweep of positive US economic data is coming in above market expectations and indicates the Fed may soon raise rates," says IG analyst Angus Nicholson. "And that optimism is translating to the financial space and hopefully some of that will spill into our market
Bank profitability and lack of financial liquidity has made life difficult for US banks in 2016. Ultra-low monetary policy has found banks struggling to improve their net interest margins.
However investors were given a pleasant surprise last week when JP Morgan announced that earnings rose 24 per cent in the second quarter of 2016. Revenues grew 3 per cent to $US25.2 billion, higher than forecasts of $US24.4 billion, and were fuelled by loan growth and higher bank deposits.
"If we do see a range of financial institutions doing better than the downbeat market consensus that will filter through to our market," said Mr Nicholson. "Already our banks have been catching a bit of a buy which certainty does help our index." US dollar earners on the ASX have also given investors a reason to cheer, especially when compared to the dismal bond yield. CSL, Cochlear, ResMed, Brambles and Amcor have performed strongly in an environment where global uncertainty has pushed investors into safe-haven US dollars.
Local earnings season
Australia's earnings season is due to kick off next month and some analysts expect to see a rebalancing across the sectors as the sluggish growth environment weighs on company bottom lines.
"You'll see some fairly mixed but modestly negative data for ex-resource Australian stocks because of the cyclical slowdown," Mr Boey said. "Retail plays are likely to be hit the most."
Investors will be watching the banks, as the possibility of further bad debt charges looms and pressure on lenders to hold more capital. Mr Boey also points out the leading indicators of credit growth have slowed. "Typically when credit growth slows, you do see bad debt charges rise. It will be interesting to see if that plays out or not."
Resource companies are set to have a fairly positive earnings season after the turnaround in commodity prices.
Continued stimulus, commodities
Since the beginning of the year, commodity prices have rebounded strongly. Oil has lifted 38 per cent since it's 12-year lows in   February and iron ore is up almost 35 per cent for the year.
Materials and resources stocks have soared post-Brexit, causing some analysts to question whether they are now overvalued or is the market potentially pricing in a further rebound in commodity prices over the next year.
James Woods, global investment analyst at Rivkin Securities, says the promise of further global stimulus will keep commodity prices lifted over the next six months. "The stimulus expectations are boosting commodity prices and that benefits Australia greatly," he says. "It also increases global sentiment."