OK, no-one wants to play guess the spi range for Monday. Too...

OK, no-one wants to play guess the spi range for Monday. Too short-term for Voltaire, and I guess just not interesting to the rest. So how about instead some guesses as to what level the XJO reaches over the next week or two before there is a significant pull-back?

I've read the bearish analyses that suggest the end is nigh (indeed, overdue as of yesterday.) However, whether the end-of-the-world-as-we-know-it is imminent or not, I think the rally's got a few hundered points in it yet; conservatively 6500, maybe 6600 before a pullback. And then I think it will be a continuation of the current bull market.

My take is that despite the hysteria and beat-ups in the media (journos just can't resist a good horror story), there will be no wide-spread or systemic credit-squeeze related problems for the Oz markets; the US markets will have some heartburn and dyspepsia for a few months, perhaps even some lingering effects for some years in some limited sectors, but one thing about the US is that they take their medicine and get over it and on with it.

But that's all beside the point for the sake of this thread. The question is: what level do we reach before a real reversal of any kind?

-Mark