[hinckley buzzard]

I agree with what you say about the trendline (DOW=7000, more or less.)

But remember that in a true Bear market, the values may go well BELOW trend. DOW 5000, anyone?

[xzins]

I agree that the market can go well below trend. I don't think it will hit 5000 because EVERYONE in the entire world will know that that is a seriously UNDERVALUED market. When it gets into the 6's, there'll be frenzied buying of everything that looks like it might be able to be resuscitated. If it ever hits 6500, the buying will be at fever pitch.