You can read too much into two weeks. But it seems to me that the last two weeks sum up why Justine is ranked #4, rather than higher, or for that matter, lower. And a good idea of where her raking is headed.
1) She 'can't' beat the players ranked above her.
Liftetime H2H vs those players?
2-7 vs Clijsters
1-7 vs Venus
2-4 vs Serena
A combined 5-18. And ALL of these matches took place in the last 2 years and 1 month. This isn't ancient history. Still, she beats Kim and Serena once every 3 or 4 matches. She can't seem to solve Venus at all. Of course Justine beat Venus the first time they played. But seven straight losses since then spells 'can't beat at all'. In the last 12 months, Justine has 18 losses. 10 of those losses were inflicted by Serena, Venus or Kim.
2) She's a 'clay court specialist'
Again we need those single quotes. Look her her five victories over the current top three. Four victories on clay, one on grass.
3) She still drops matches to non-elite competition. Kapros, Daniilidou, Irvin, Casanova, Dementieva.
ONE loss like that in a year is expected, even two.
FIVE is a lack of consistency, or a failure of focus.
2003 Hamburg QF L DOKIC 6-7 6-7
2003 Rome FR L S.WILLIAMS 6-7 4-6
2003 Roland Garros 128 L KAPROS 6-4 1-6 0-6
2003 's-Hertogenbosch SF L DANIILIDOU 6-4 6-7 3-6
2003 Wimbledon SF L V.WILLIAMS 3-6 2-6
2003 Stanford 32 L IRVIN 3-6 6-4 1-6
2003 Canadian Open QF L CAPRIATI 6-4 0-6 2-6
2003 New Haven 16 L MYSKINA 5-7 2-6
2003 U.S. Open 16 L HANTUCHOVA 1-6 6-3 6-7
2003 Leipzig SF L S.WILLIAMS 4-6 2-6
2003 Stuttgart 16 L CASANOVA 5-7 6-4 4-6
2003 Zurich SF L DAVENPORT 6-7 6-7
2003 Tour Championships QF L CLIJSTERS 2-6 1-6
2003 Sydney SF L CLIJSTERS 2-6 3-6
2003 Australian Open SF L V.WILLIAMS 3-6 3-6
2003 Antwerp SF L CLIJSTERS 2-6 6-7
2003 Miami QF L RUBIN 3-6 2-6
2003 Amelia Island SF L Dementieva 6-1 6-0
Sure she loses to the 'Lesser Elite' (Myskina, Hantuchova, Dokic, Rubin, Seles) occasionally[/color], but so does everybody else.
The top twelve all have it in them to beat just about anyone.
But the keys to the Kingdom for Justine are cutting out losses to non-elite players, and improving that record against those ranked ahead of her.
4) Lindsay Davenport is still carrying results from when she first returned to the tour. Run the numbers. Lindsay's going to be #4 before Roland Garros, absent injury. Justine was defending over 1000 points before RG. Lindsay was defending zilch. Statistically, Justine had to earn 300 more points than Lindsay to stay ranked ahead of her for RG. Right now, Lindsay is earning just as many points as Justine on Justine's best surface, and Lindsay's worst.