A move like that based on EW makes some sense. Of course the market can do anything, but a move to 9700 or higher would be enough to get bears exhausted, blown out, and have most people thinking the worst is over. Then then really sell them. I hope EW is wrong, but it's only because i'm impatient. haha.
Well, I think that you are technically refering to the M3 money supply. It started going crazy in 1995.