9/14/10

DAILY

Today we may have seen the completion of minuette (i) of minute [iii] .

15 MIN

Here's a closer look of minuette (i). If it is complete, I would anticipate minuette (ii) to retrace towards 1093 or so where we find a cluster of rising MAs and the 38% Fib retracement of this rally since 8/27.

I posted this chart earlier today. It is possible we only saw the top of subminuette iii. What may be a guide for this is the two charts below, the first being the larger view and the second one a close up.

Notice after breaking back above the quarter channel yesterday, a pullback today found support on that channel. Perhaps if today marked the end of subminuette iii, subminuette iv may crawl up and sideways along the channel. We'll see....