Market Analysis for Sep 8th, 2004

For today's Mid-Day Minute, Mike writes: All of the action from Tuesday's high at 1124.50 is taking the shape of a high-level coil pattern, which raises the likelihood of one more thrust to the upside to new recovery highs. If such a scenario unfolds, my work points to a quick, violent pop into the 1127-1129 target zone prior to a nasty downside pivot reversal. At this juncture, only a failure to make new highs followed by a decline that sustains below 1116 will argue that the Aug-Sept upleg is complete.

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