Market TAO EOD 10-05-09

This is a Fibonacci Time and Arc Study.

Looking for confluence of lines and found a correlation at the AM open Tuesday Am 9:30 est.

This would be the top of wave 4 .

But if this current wave continues higher then we are not in a w4 ....it is something else.
Possibly a sideways series of ABC Zig Zag pattern waves typical of a large consolidation structure.

So far the move down from the high of 1080 to the low of 1020 is a big ABC Zig Zag Pattern.

The current wave could be an "A" wave or a 4 wave either way we could see a move to the lower purple trend line where we could see one of two possibilities play out as illustrated on the chart.

A bounce or a pulse down to complete wave 5.