in my guess, pamo, we are half way thru the BearMrkt, which will last for a few more years. BearMarkets fluctuate violently searching for suckers. We are probably going to see a Bear Rally here for about a month. But these markets are very tricky to trade. if you can not afford the nerves to trade, nor any losses, stay out. this is not the time for beginners. If you can pick stocks like you were trading, it is a good time to learn what happens but it is not time for just anyone to be in. Now, in answer to your question. I would expect the Indices to come down another 5-10% from here in any sell off this year, between now and August. I would expect us to Rally from today for this month up about 3-5% from here, rallying until the Oil prices particularly Crude goes down another 10-15% from today.