After that the major turn is only around Nov 4th (though there is a minor turn around Oct 10th - we don't think this will be powerful).
This week will be key to our downside call. Markets worldwide, atleast some of them like the (KOSPI) which have finished their requisite price and time counts should start showing weakness. A break of the 20 moving average will be a great start and will confirm our bearish view. We will dive in short headlong at that point. KOSPI is the leader (according to us) in the asian region. The behavior of the KOSPI is usually a harbinger of the nasdaq. The chart has also followed the DJI closely.
Other than that, JNK:LQD ratio has finished wave 1 (or A) down and is rising up in a wave 2 (or B). A nonconfirmatory high will be another point for the bears.
