It looks to me like the market had overcorrected. For some reason, it appears to me that we have entered a period of excessive volitility that has earmarks of emotionalism. The bubble was a symptom. The bloodletting was a symptom. It seems to me that once there is a rally (and we may be in it now), the same emotionalism is likely to make it faster than we might anticipate (another overreaction, if you will). But in any case, it looks to me like if you extend the best-fit line of this graph, it indicates we should be around 10,000.