The Black Box

[euterpe1]

You guys are all ignoring the Bollinger Bands on the Monthly charts. It is highly unlikely you will get a move to 2500 based on the slope of the monthly BB. If we do hit that number, it won't be until year end. Look at 1996 for a perspective. For that to have a chance to happen, you would need a significant drop in the market followed by a steep rise to get the BB in motion. The monthly BB has capped each advance since late in 2003.

With the 4 year cycle upon us, we may have seen the top and are heading down or we will continue this yoyo up until May possibly and then get the sell off into OCT/NOV. That is simply speculation on my part, but I will stick with my upper limit on this market for 2006. Right now I will venture that 2340-2350 is it. Let's revisit this in 2 months.