My take on the market is that growth should be basically linear over the long term. Go back to a graph that shows the fluctuations of the DOW over a ten year period and draw a straight line through the thick portion of the curve so that the most points are close to that line. The slope of that line to me defines what to truly expect out of an economy driven by population growth. If it starts deviating too much above the line, people are being greedy and it's due for a fall. If it falls under, time to pull the pennies out from below the mattress and buy.

It's never failed me. According to the line we're about where we should be right now.

Art