Well the spring 2006 trend report is out at Style.com and
Here are the top trends:

Bold Prints- a lot of bright and ethnic colors
The innocents-eyelet, lace and openwork embroidery
The Kimono- Asian influence-platforms, obis (wide belts), robe like
The New Sexy-bandage dresses, babydoll, asymmetry
The reinvented Pantsuit-these are soft and slouchy but still tailored
Shirtdressing-tuxedo, nautical