4 year cycle low coming up in the fall. Here's a LT chart of the spx. Notice how except for 1987, the spx has made a low every 4 years. <A HREF="http://tinyurl.com/k3kqy" target="_blank">http://tinyurl.com/k3kqy</A> This period from 2002 to 2006 looks very similar to the period from 1990 to 1994. If so, we get a bounce here and then down into the fall for a 4 year low in Oct or so.