MMM, again

mmm oct 25 2011

Today’ drop of about $5 suggests that we are back on the way down. The retracement was a little short of the ideal level of about $84 or so where the 4th wave of previous degree resides and where we would have had a 50% retracement of the drop. but in this case the initial 5 waves down is fairly clear , as is the 5th wave diagonal (which normally is retraced entirely.