Quote from Buy1Sell2:
Attached is the current monthly chart. Are we at a top? Perhaps, but more likely the top would not be an extended top. It could be a few days or weeks but probability is that it would not last much longer. --Certainly not "many many" months---This is the problem with not looking at the longer term charts for direction. As I said in the initial post that I made, there will be one time, and one time only in each cycle, when the prediction of a top that will last for many many months will be the right prediction. This is why every previous prediction by Thorn/Rubberbird with regard to a top in SP has been wrong. A call on the daily charts should be viewed in the context of days or weeks rather than months. Is this the time when the prediction will be right? Perhaps, but not very probable.
Post script: A call on an individual stock, while it may be viewed as a good or great call has no bearing on the premise of this thread which makes a prediciton on the whole of the index.