I know that saying anything bearish is likely to get me booed off stage, but I'd like to offer the following: below are the 50, 100, and 200-day simple moving averages for the NASDAQ Composite index. I've put an arrow at the points in 2008 and today where I think things line up pretty nicely from an analog perspective.
For what it's worth (which may be $0.00 in this market), I've circled the approximate place where prices were in 2008 corresponding to the above arrow. What it suggests is, yes, some more upside, but a market that is broken enough to fall heartily later.
Of course, as long as we continue to be held hostage by the-announcement-that-never-comes, it hardly matters.
