Dow Jones or S&P

I trade primarily the Euro/Yen and have read that this pair has a strong correlation with the US Indices. I have been following both now and looked over the historical data for the past year and there is no doubt that there is a relationship.

I have read conflicting reports saying that i should follow the Dow Jones and others saying the S&P. My question to the forum is based on your experiences which should i follow more closely?

If anyone has any links to suggested websites regarding this please post.

thanks in advance!!!

They both follow basically the same pattern but they don't always rise fall the same percentage each day but it tends to average out.

One recent discrepancy was March 07 low retraced on 16 Aug
S&P retraced virtually fully but Dow less than 76%

Dow only has 30 stocks S&P has 500 and the S&P has 10-20 times traded volume (futures)

They both now are at 38% retrace to 2002 low as is the Russell 2000

Info
--w.djindexes.com
--w2.standardandpoors.com

thanks steve... those sites are very informative!!!