SPX and INDU: Only a Test

On October 13, the first update after the Trump mini-crash, I warned that "nothing had happened yet" ("[T]he bottom line is, from a technical Elliott wave perspective, nothing has happened yet and this could just be a particularly violent fourth wave.") and not to get too bearish unless key support broke in the form of the long term chart immediately below -- as well as the red trendline in the chart that follows this one:

SPX red channel chart:

Finally, a quick update to INDU, just to note that this isn't a "bull nest" yet, it appears to be an ongoing third wave still:

In conclusion, futures are suggesting a new all-time high at the open, so it appears that not panicking in the wake of the mini-crash was the right call.  Given INDU's three-wave rally into its ATH, it appears bulls likely still have the ball for the immediate future, even if there's another leg down directly.  Trade safe.