Small Caps lead the way still.................

$SML (S&P600) Daily Chart @ Close 10/14/2013

The correction back to the 50day SMA reversed 'on cue' and continues its 'leadership' role in NOT participating in the more meaningful pullbacks witnessed in the benchmark indices (S&P500/ DJIA/ DJT).
When the Small Caps give us the 'sign'; then we'll be more confident of a deeper correction of gains, scored even in lieu of constructive debate in DC over budgets & Obamacare.

Small Caps back to the 50day SMA

$SML Daily Chart @ Close 10/09/13

Small Caps 'migrate' back to the 50day Simple Moving Average (SMA); where we go from here the BIG Q?
A Daily Close below this & the 200day SMA remains a ways away @ 846...some 8% lower from today's close.

S&P Small Caps: "What correction!?"

S&P600 (Small Caps) Daily Chart @ Close 10/01/13

Whilst the Benchmark S&P500, together with the Dow Industrials & Transports have been in 'corrective' mode; the $SML & NASDAQ100 for that matter, have both surged to new highs.
Until a Clear Sign of a reversal is witnessed across ALL Indices; suggestions that a meaningful high is in place remains preemptive.

DOW INDUSTRIALS Lower after the re-balancing........

DJIA Weekly @ Close 09/30/2013

Coincident with Negative Divergences in other Indices & McClellan Oscillator confirmation; the DOW is in correction mode. The Small Caps however; managed a marginal new high last week and also scoring a marginal gain come Monday!

Dow Jones 'rebalancing' a sign of the times?

DJIA @ Close Friday 09/20/2013

In time to celebrate the 'new & old' changes to the DJIA; persistent Divergences (Negative) may well take hold on the Industrials.
If so; then a simple 38% retrace of the gains from late 2011 could well be the result.
That 'result' would witness a move back to the 2012 October High @ 13,661 & 38% of the gains since 2011...with the risk being a larger pullback to 12,471 (62%); the point @ which this potentially last leg of the 2 year old rally started from.
QE 'that'?