The future of the markets look grim. Using a simple pitchfork indicator on monthly indexes we can see the following. S&P , Nikkei, DAX are severely overextended; note the 1.272 and 1.1618 extension. Hang Seng has begun its' correction and the channels are indicating the path of correction. I would anticipate at least a correction to the mean. Considering the parabolic move up; I would expect an equally fast correction to take place.