Sitting and Waiting for the Stock Market to do something.......

Did you see the Dow jump 256 points yesterday? In the grand scheme of things, that 256 point move didn't make a single bit of difference. The Dow is sitting at 8616 which is towards the top of no man's land. The Dow is trapped in a trading range from 8800 (high side) and 8150 (low side), so the 256 point low volume means little to nothing. If you're looking for some Nostradamus prediction on the Dow or Equities market, you're probably better off flipping a coin. Heads - Market going up. Tails - Going down. I have been staring at the Dow chart for weeks now and I reach the same conclusion every time. It looks like a bubble. It started on 9 March and it has a real nice arc to it sort of like an umbrella. It has the same chance of going to 5,000 as it does going to 10,000. The current DOW P/E is 12.76 which means investors are willing to pay $12.76 for every $1 dollar of earnings on the DOW. What does that tell us? Probably nothing which is my point. The DOW will probably tell us nothing about the economy. As always, the DOW chart is attached below for inspection. If you have any ideas on where the DOW is going, please let me know.