S&P is down the last two days and many people think that we have seen an intermediate top. I still believe that we'll see 1000 before 800. Nasdaq has been relatively weaker the past few days but S&P has been holding up well. Nasdaq rallied 30%+ from the low and S&P rallied 25%+ from the low. This sell-off is limited to Nasdaq and once it finds support we should go higher. We need to see more than one true selling day for the trend to reverse.

I'm still buying break-outs here.