S&P500 Correction back to bottom of recent 'Time' Range.

S&P500 Daily Chart @ Close 10/11/2016

The Reversal Week of 08/19 continues to 'haunt' US Equity markets; Tuesday's sell- off YET to probe the bottom of the range witnessed since 2193 Highs.
2115 Support (38%) keeps the Correction more 'Time Based' than Price (< 4% below 2193); a breach below 2115 & Major 2069 Support (62%) looms with THAT BREXIT GAP @ 2035 from late June in need of a Fill later if not sooner?

Benchmark S&P500 Correction 'rolls on' in Time......not Price?

S&P500 Weekly Chart @ Close 09/27/2016

Whilst the NDX100 negated its Outside- Down Weekly pattern this past Week; the Benchmark S&P500 remains under the 'influence' of the Indecisive Small BUT potentially significant Reversal Week of 08/19.
The MACD remains on a Sell Signal juxtaposed to the Full Stochastic (incomplete Week) but potentially signaling a Test of the 2193.81 High.

NDX100: Signs of the elusive Medium- Term High?

NDX100 Daily Chart @ Close 09/12/2016

Whilst the Benchmark S&P500 gave it's Sell Signal pre- NFP's; the NDX100 gave both a nuanced Daily Indecisive Sign & then an overt Key Reversal Weekly Chart (Small Caps as well) last week.
Largest 2 Day move since the early 2016 'scare' Jan/ Feb leaves as many Q's as A's post FED commentary that exhibits divergent FOMC Policy views?
Should the overdue Correction play out; Support @ 38%/ 62% retrace of Rally > 4180 resides some distance away from Monday's Close.

NDX100 still the 'lead dog' in the Rally that has finally 'stalled'; A Correction another matter altogether?

NDX100 Daily Chart @ Close 08/23/2016

3 Weeks since our last update as this Rally succumbs to the Norther Summer 'doldrums'; September the likely period for 'what's next'.
Trending Indicator (ADX: Black Line) now in de- trend mode & below the DMI+ (Rally) fully reflecting the 'stalling' market.
That said & definitely NO Sign in this particular Index that a High of significance has been witnessed.
The S&P500 did however score the most marginal of Reversals this past Week; whether it matters time will tell.

NDX100: Momentum Rally continues apace post- BREXIT 'CHAOS'.......

NDX100 Daily Chart @ Close 07/29/2016

Whilst this Rally WILL exhaust itself like every other in market history; the lack of conviction/ belief by many may yet allow for further gains that simply 'shock' those that 'fell for' the IMF/ BoE "Chaos" prognostications immediately post the BREXIT Vote.
NOT until a Clear Sign is witnessed should we 'doubt' this Rally; as the DMI/ ADX Indicator 'trumps' all others including the RSI.
Caveats are existent; the Small Caps 'idling' sideways for 13 days; the Bio- Techs setting the pace BUT below retrace levels that keep it in a Bear Market Rally categorisation for now. Patience.