Whenever you try to pick market tops and bottoms, you are making a prediction. Guessing what stock is going to outperform the market is forecasting, as is selling a stock for no apparent reason. Indeed, nearly all capital decisions made by most people are unconscious predictions.
We may see some of the capital expenditures spent this year were more or less pulled through from early 2005. All these tech purchases would have been done anyway but they've just been moved forward.
The Fed doesn't have to jack up rates really quickly since other economic indicators are softening. Capital expenditures are modest and employment figures are anemic, so the biggest danger the Fed faces is smothering the recovery.
This is one reason why recent labor numbers were lackluster, ... Accelerated deprecation put a thumb on the side of the scale in favor of increased capital expenditures instead of hiring.