Yes I remember Super. I thought we were talking about the S&P running away from gold, perhaps I got it reversed. I might have had a few cocktails at the Beagle that day, sorry. I can make a case for a rally or a decline. I have no conviction, and haven't looked at technicals. Your dog is probably the best indicator.
On the one hand, money is on the sidelines (or in bonds or de-leveraging debt), can it flow into equities? There is much fatigue and much doom and gloom, doesn't the market usually catch us off guard? On the other hand, the markets have risen relatively far from their lows of 2009, outpacing the economy, perhaps there is room to fall back down? On the 3rd hand, yes the 3rd, perhaps we stay flat within a narrow range for a long while. I should be a commissioned stock broker, that way I get a cut no matter what!