[Steven W.]

no - what's happened is extremely unhealthy for the market IMO. this rise has had no corrections along the way and is poised for a near exact repeat of the November crash which ended the bear market in 1974. basically what to watch for at this point is for the current cadre of anxious buyers who came in after the market hit new lows in October (DOW 7200), without waiting for the market to test those lows. once this period of buying has exhausted itself the market is now well prepared for a terrif big plunge through November before a final correction in December, near exactly the same setup as happened throughout the year in 1974.

[steveegg]

Exactly what happens when something bounces off the ceiling. I have no idea where the floor is on this market, (I hope you're not too optimistic), but it's going to be a long while before we get above the 8500 range.

[rohry]

"what's happened is extremely unhealthy for the market IMO. this rise has had no corrections along the way and is poised for a near exact repeat of the November crash which ended the bear market in 1974."

Interesting, very interesting. I was not in the market then and don't remember exactly what happened, but I do know the market took a big hit...