Wednesday, September 30, 2009

Dow Transports 9/30





It appears the transports have now sported a five wave impulse down since my last post. This may very well be a minuette (i).

A minuette (ii) also appeared to be in progress with the completion of wave b of (ii). Assuming wave b is complete, Fib expansion ratios may help identify the top for (ii). If the count is correct, a minuette (iii) should follow and push price through the P2 lower trendline.

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