If the Ndx continues to outperform the Dow through this decline it will indicate that real risk aversion has not yet arrived. <img src=http://ichart.finance.yahoo.com/z?s=%5ENDX&t=5d&q=l&l=on&z=m&c=%5EDJI&a=v&p=s> Look what happened in Oct. when Dow underperformed Ndx <img src=http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$indu,uu[l,a]waclyiay[p][vc60][i> <img src=http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$ndx,uu[l,a]waclyiay[p][vc60][i>