Trading the SPY and QQQ

[Footquarters]

Hi Bob,
Great site. I like the charts on there. Anyway, think you are right about a top. 938 SPX was what I had as a target. Guess we will see. Everything is overbought but this appears to be a tough nut to crack. Da Boyz are sucking in the money with margin requirement eased and talk of the bull market.

Dow Theory says that the Dow has to get to 9077 and the Transports must get to 2470 for a "New Bull" to start. I have been watching the Banks as the BKX tend to be an indicator of what is happening. 800 was key support now resistance again. So that is pretty much tells me what is going to happen in the Dow. If it doesn't recover today, that would indicate to me a reversal...
Here is a neat site that "fundtimer" from our board has. More information than what I can handle.
http://www.softcommdesigns.com/n5/jstrend.html
Dave