The cycle labeling of the DOW and S&P 500 are still in question. Last week's charts were relatively flat and showed no upward momentum. That, combined with today's steep drop, is a bearish sign suggesting these may be older medium-term cycles now heading to their final bottoms, possibly in the first two weeks of November. Although the NASDAQ 100 (E-Mini, Dec. contract chart) is most likely a newer (younger) medium-term cycle, it could peak early and turn bearish as well. If it drops below 10,656 before exceeding its 12,249 high from two weeks ago (Oct. 13), that bearish scenario could be happening. The possibility of a Biden/Harris win in the presidential election a week from now combined with growing doubts that a COVID stimulus package will be released before the election is putting a damper on Wall Street optimism. Unless we see some rallying soon, next week (or the week after) could give us a corrective low in all three indices. If they don't go TOO low, we may have a good opportunity to buy. We will remain on the sidelines of the broad stock market for now.