everyone runs around a group of chairs until the music stops... then they all sit down. But each time someone is without a chair! So at what level will the 'music' stop on the NAZ and SPY, etc. Even the healthiest bull or bear markets have retracements/ pullbacks lasting for more than a few minutes! Maybe this market will prove both Fibonacci and Elliot lived in vain. Has the world economy and the USA really improved that much in the past few months to justify this exuberance! One minute the US might not be able to pay our bills if Congress does not act, and European countries are going bankruptcy, then suddenly all stocks and indexes are being marked higher on a daily basis. 1. I think we find an interim 'top' late this week, and correct next week into expiry. I know this because I have Feb call back spreads and bull put spreads, on NDX; thus I know from past history, the market will have to find some way to screw me on these positions if I hold into Feb monthly expiry, or roll to higher put strikes. In fact if anyone whose short wants to pay me, I will sell some weekly 2500 weekly puts tomorrow, and this is guaranteed to create an automatic >50 points drop in NDX by this Friday. lol 2. Another scenario is we run up into Valentines Day/Feb expiry, then correct the following week. I am not sure if this scenario comports with the O/I in NDX February call and put strikes. But then I sometimes suck at analyzing open interest, even though I keep looking for the holy grail to analyzing same. 3. A third scenario is we continue to run for Q1, and correct in Q2. Just wondering when will the music stop, and who will get left without a chair.