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Below are charts which show recorded outbreaks of Ebola alongside stock market price movement.

SPX - Ebola 2014

There appears to be a correlation between Ebola outbreaks and both the Dow and S&P. Ebola outbreaks occur close to the beginning of a market crash in 2000, 2008 and a large correction (not a crash) in 2012. Previously an Ebola outbreak occurred at the end of a major market correction in 1976.

The Dotcom crash of 2000 to October 2002 was followed at its end by another outbreak of Ebola.

In 1994 / 1995 another outbreak of Ebola coincided with only a minor degree market correction (so the correlation is small).

DJIA - Ebola 2014

Currently we are seeing the largest ever outbreak of Ebola. It’s an interesting correlation and if correct would support the bearish wave counts for S&P and Dow.