On the left hand the monthly Dow chart and we will make some very simple but crucial observations.
We are still in oversold territory for now and need a few more months to get neutral at least. The strong support has hold as expected for now and we are heading for the 50% retracement at 10400 til yearend or Jan2010. In any case we will see a deep correction in the first half of 2010 testing the lows and even making new ones but just a few hundred points before we go back up to 11000-500 as the printing press will be in full force inflating the real economy in a time frame up to 2012 even. Within 10 days a 10% correction will be fast and furious til mid Nov. before the final leg up should occur.