The bus is in full gear...late comers don't attempt to climb this bus...previous pull back which was shallow was wave 4...we are now in wave 5 which gives me a target of 3500 if the current buying pressure is maintained but wave 5 is a short one so we might or not reach 3500...the market is becoming expensive as we go up as indicated by a PE of 8.7...events have turned on the global front...with no QE3 expect risk appetite to wane which means commodities, currencies and equities of emerging and frontier markets will take a beating...locally economic fundamentals have not changed for the better despite inflation coming down, that's why MPC retained 18% to keep the Shilling up and try contain inflation.