I think we might have another week or so to go.
A couple of reasons why...
The US market seems to be at a 'decision point' as to whether to go higher or lower, but I haven't seen a decision point yet that didn't resolve to the upside.
We're close to a top but I think we've got another couple of percent to go. I'm a bear but I still think we'll see bhp over 48 and xao up around 6900.
When I look at past crash tops it seems to me that the real damage is only done when the market has struggled to rise after being bid up to a high and then... after a couple of failed attempts to rise... reality set in and down it comes. I think the 367 point drop in the DOW a bit over a week ago was an example of this but on a smaller scale.
warning 2007 crash, page-34
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