http://www.minyanville.com/articles/s&p-necktie-djia-price-breakout/index/a/13372/from/yahoo This is exactly how I have been thinking. Im very bearish on the $SPX. However, just the $SPX and not neccasarily the entire market. In 2000, if you had been involved in trading stocks listed in the Russell 2000 Value Index then you would have come out just fine. In fact, you would have lost no money. It was the Growth indexes that were the big problem. We have reached a new peak in the $SPX and things in the market do tend to repeat themselves with a new twist, a new turn. I believe this time value stocks will be the ones that will fall and a lot of value is in the $SPX. The $NDX and other growthy indexes will be just fine. As long as the Euro stays strong, then the DJIA will rise. I dont see the $SPX going past the 1550-1600 range. Growth will be the winners on this next pullback and I expect them to surge. The $RUO just broke up over its top and I see about 250 points up to go on that index. However...the $RUJ is not making new highs and appears to be breaking down. RUO=Russell 2000 Growth breakout in the making now RUJ= Russell 2000 Value sputtering and making new lows, correction coming sooonnnnn.... As I type this, the SPX dog is positive, but the NDX horse is outrunning the dog. As I expected no surprise.