Even though today was another boring and uneventful day (we closed two points down), we finally breached out of the narrow channel I was pointing out last night and promptly went back up to retest it. This is a good sign (if you are short). We’ve been consolidating sideways for the past few days and once this indecision is resolved we should get a large pop in one direction or the other.
At this point I see two possible scenarios. We will most likely gap down tomorrow and then make a final push to the 995 area (that intersection of trendlines is just too juicy to pass up). As everyone holds their breath for 1000 we then proceed to drop quickly and massively. Since the Monopoly money doesn’t run out until Friday I think this is the preferred roadmap, and hey, that intersection just so happens to coincide with the Friday timeline.
The second option is to drop tomorrow and just keep going. Futures and Asian markets are down as I write this (“amid bubble worries,” to quote Associated Press) so perhaps that’s what’s in store. I think this scenario is less likely though.
(The third scenario is that we keep heading up to 1050 and beyond and forget that there was ever such a thing as a bear market but every day this rally keeps going is essentially another nail in the coffin, so I think the chances are slim. I’ve been wrong for the last two weeks though so hey, at least it won’t surprise me.)
Chart Games 
Hyperinflation Nation
Green shoots? Watch this video if you still have visions of V, U, L, or any other kind of alphabetic recovery in the next few years.