Short term, the end of the first 1-2-3-4-5 down move is near. Expect an A-B-C move up.
Intermediate term, expect two more legs down, with a rebound in between, taking the next few months.
Long term, a correctional cycle like what was in 2004 is the most likely outlook. The real bull market may start near the end of 2010 or mid 2011 that could bring us out of the range bond since 2000 and begin the next super bull market cycle that could last 10 -15 years. Expect a 6-digit $indu in the end of that cycle.
SPX 4H:
SPX Weekly:
INDU Monthly:
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