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Normally, I only report on the Dow in my updates.  That is for several reasons.  One is that the Dow is the index that most Americans follow the most - so its level is the one most Americans react to the most, too.  Because of that, I also do it for simplicity - the Dow, S&P 500, and Nasdaq often react in somewhat different ways, and to try to keep track of all of that all the time would probably overwhelm the reader and would probably also overwhelm me over the course of time.  Moreover, I do think the Dow will reflect the economic downturn quite well when it comes - because I think the Dow stocks will be hit just as badly, if not even more so in some cases (because of the nature of the particular stocks in the index), than the secondary part of the stock market - and so I think the Dow is a fine proxy most of the time for what is going on in the bigger picture.