How high can the S&P Go? is the title of another thread on ET. Everyone wants to know, because once it happens, we can switch from buy the dips to sell the rallies as the dominant trading mode. Well Prechter and his guys over at elliottwave.com have their semiannual free week going and they are calling the top of the bull market rally ... again. They claim that Nov 7th was the Dow high and Nov 14th was the S&P high. That's it, rally over, lights out, all downside and heartbreak from here. Except, wait a minute. During the last free week in May, they said the high was in at Dow 8743 and it was all downside from here, heartache, pain, etc. Marty Schwartz said in "Pit Bull" that while Prechter was the guru de jour in the 80's by predicting the bull market, the crash of 87 turned Prechter into a perma-bear and he called for the market to top all during the 90's. So when EWI tells you they predicted the top in early 2000, well the saying "even a broken clock is right twice a day" seems to apply. (BTW if you get the idea from my nickname that I'm a perma-bear, my other nickname is mBull.) Oh yeah, the ewi guys were using the fibs for S&P and Dow cash to make their projections for the top here. Numbers that weren't quite hit in either the S&P (1,068) or the Dow (10,012) and yet, they have now abandoned those projections to say the top is in. So here we go again - was that the top or is there more upside before a huge collapse down to those mega-bearish projections you keep hearing?