[Update 11:17AM: The NASDAQ 100 is another structure I'm keeping an eye on. I favor it taking out its 2007 high. It seems to be working on some kind of Minute [iv] already. It need only make a new high here to fulfill a Minute [v]. Not sure how the [iv] is going to play out here is thats what it is.]
Key support level is green line I would think. A breach of this and we have a new wave structure occurring.