Looking at today's movement across the markets, it appears as though we are at the test point of the 'W' shaped recovery. Add to this, that as I write this the markets are essentially at or near their October 2008 levels (post collapse) and you have an interesting situation. However, sometime in the next few days we should start to see whether the bulls or bears are right.

Personally I think a downturn correction for at least a week is in order to level everything out. Whether we continue upward or downward from there depends on a lot of factors, including some key political actions currently in progress.

Three numbers to watch coming up:

DOW      9000
S & P      900
NASDAQ 1900

These are general numbers without exact research or investigation, but generally movement below these lines in the next few days to a week could trigger further downward movement in my opinion and it is just that, an opinion. Many unknowns that could certainly change things, but this kind of unsustainable upward movement just screams for a correction of some kind.

I hope so,i'm short HOT and GT. But i'm getting skeered to get in front of this thing.

I keep looking back to 2003, wondering if I'd decided the Dow was going to drop back at 9,000 when it had come up from 7,700.

It wouldn't surprise me if the markets did correct 10%