It's just tough to hope for any major down until the Baghdad situation is resolved. Too many people are doing the comparison to the huge increase during the 1990-91 war and don't want to let this rally die yet.
Any "Kelly's Heroes" type footage of us rolling into Baghdad and you could get some huge ups along with Saddam dead / exile, etc.
Once this war ends you can kiss the market goodbye if it's still up at that point.