SPDR S&P 500 (SPY)

[2X-Be-Me]

Gleno, I agree, you need to look at longer-term charts to see what's happening. For instance, there's no doubt in my mind that the QQQQs topped on 11/22/06 at a closing price of 44.73 and have been falling ever since. The SPX and INDU did not top on that date and have continued their climb since they both bottomed simultaneously on 6/13/06 (the QQQQs bottomed on a closing basis on 7/21/06 at 35.70). I've always theorized that the QQQQs lead the other indexes. Which makes me think we may see a sharp turn-down of the SPX and INDU, as well as a bottoming of the QQQQ decline, toward the end of this month. We'll see. 2X