KrunchieKilleen
Short

DOW AND NASDAQ FOLLOW S&P DOWN

AMEX:SPY   SPDR S&P 500
65 1 6
The Dow, (here echoed in the DIA             ETF on the DOW 100 shown green), quickly followed the S&P             , (here echoed in the SPV ETF on the S&P 500             , shown blue), and then the NASDAQ (here echoed in the QQQ             ETF on the NASDAQ, shown blue), joined in the dip. It is too soon to say if this is the beginning of a downtrend, but why not, since the indexes are overvalued?
More likely its at the top of the channel and will move more to the center of the channel. As your yearly chart show, we are still in long-term uptrend. Too much money in the system, which breeds speculation and bubbles. Since every market is correlated, a bubble can occur in any market, and affect other markets, and visa versa, too. But few people see bubbles before they hit. They are transparent (nearly invisible), until they pop.
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