Oh my God... how could this be? It must be a sign or an omen. I am putting on my tinfoil hats as we speak.
I thought I just did. Futures are not always above the cash (BASIS). It usually indicates the down turn if they fall below the BASIS.
The Dow cash has been leading the Dow Futs since rollover. Most all of 2007 (with a few exceptions [Feb 27 being one]) Futs were leading the cash. - Spydertrader