I really think the NASDAQ is a poor indicator. The DOW reflects the mood of investors in this country. The NASDAQ is a poor indicator of individual stocks on the exchange. I have noticed stocks I trade / invest in have little to do with the indices lately. It's a stock pickers paradise. The right stocks are affected slightly by the overall markets. Especially the Chinese stocks. Canada and Britain seem to trade in tandem with NYSE markets. I am really not a fan of Canadian stocks... they have an attitude toward American investors, and are openly hostile to American shareholders. JMO Chinese stock has volatility and is more vulnerable, but sooner or later even large short hedge funds cover and the stock zooms.