10/30 Waiting Mode

It is hard to judge what's going on at this moment. My reading on 10/22 is not a good one. I thought it was a double bottom which may result in a rebound. Unfortunately, market went down, with no obvious reason. Now we have 2 scenario.
1) The Pattern I pointed out in 10/11 post is still in play. SPX may find support in sub-1400 level, then rebound to 1450 level 1 more time.
2) The pattern was completed on 10/12 because the rebound to SPX 1465 then reverse down was too big to be considered as a sub-movement.

I think the bottom line is we are bottoming. Sub-1400 level is a much better support. As I pointed out at Dino's, if no more selling pressure, ES will do some mild recovery since Friday afternoon. Actually, ES made another double bottom at 1393-1394 level during Monday global session, which roughly equals to 1398-1399 SPX.
I expect a revisit of the overhead trend line which is declining, then we crash into the year end.