Thursday’s trade so an increase in volume as the minute wave 4 correction continued.  I have again adjusted the labeling as the ES moved to a new low during the globex session at 4485.  After today’s session it appears that the low at 4485 completed wave ‘a’ of minute 4, with the rally to session highs at 4529 being wave ‘b’ of minute 4.  This then suggests that decline off the high is wave ‘c’ of minute 4, which may be in its final stages.  With the switch in contracts from September to December there is a small gap as the globex session gets underway.  I have updated the chart with Fibonacci extensions to show the most probable support levels to complete wave ‘c’ of minute 4.  First up is 4479 which has been reached, more common though is the level where wave ‘c’ would be equal in length to wave ‘a’ and that sits just below at 4465.  There is additional support below at 4451 and 4441 and while the market can certainly drop to those levels it is cutting it close with the “no break zone” at 4414.  For now the benefit of the doubt continues to favor the completion of minute wave 4 and the start of a minute 5th wave advance complete with new highs above 4550 to 4600.  Once wave 4 is complete and wave 5 is underway I will update the Fibonacci extensions for wave 5.