Transports puts in an OUTSIDE DOWN KEY REVERSAL Day @ New Highs.

$TRAN Daily Chart @ Close 10/29/2014

Whilst the Dow Transports scores a new Record High; the Industrial Average remains a couple of percent shy of its.
The Outside Down Day for the Trannies commands respect as this index has been a reliable coincident indicator for the 2011- 14 Rally.
Previous such Days (Outside Down) have been both prescient & rewarding for those willing to follow their 'signal'.
Same again this time?

NYSE rallies back to circa 38% retrace............

NYSE Daily Chart @ Close 10/20/2014

Thus far the Counter- Rally has nearly retraced 38% of losses since the early September High.
Any signs of Indecision here to be noted; though NOT favored as a more formidable 62% retrace the likely 'path' before we witness just what exactly this Correction has install for us.
A cursory & timely glance back to a late 2007- early 2008 Weekly Chart for the S&P500 would be time well spent.

Correction rolls on in short- order.......

NDX100 Daily Chart @ Close 10/13/2014

Attempts to mount an assault back to the recent Highs has failed; Support now critical @ 3760+/- for the High Beta NASDAQ100 Index.
Perhaps the whole 'blow- off' Rally since the 3414 Lows needs a healthy yet 'scary' retrace in its entirety before the dust settles on exactly 'where we are' at?

Benchmark S&P500 marks a Short- Term low.

S&P500 Daily Chart @ Close 10/03/2014

Whilst the Small Caps & Russell have breached early August lows; the Large Cap Benchmarks have maintained their collective composure by staying above theirs.
Thursday's Long- Tail Indecisive Candle Stick leaves the S&P500 in good position to mount an assault on the 2019 High.