RE:Where is the top???/ As once a great song proclaimed not to belive the hype, there is no way to tell which direction and how far the SP will move. I would, however, be extremely cautious about the SP movement. Quite a few of us went through a similar hype 3 years ago only to be disappointed and left holding the bags for a long, long time. The fact that the price shot up so quickly in last couple of weeks does not mean that it will continue like that.If anything, it makes me rather nervous that it may go back down equally fast.
Current SP is based on hype and futures and not on the current state of affairs. The sector is highly speculative with a few catalysts that may propel the price up - merger and a possible US legalization, which may or may not happen. Of course, you know what's going to happen with the SP if legalization does not happen.