CMG (Chipotle Mexican Grill) : beautiful 5 waves up off the 2009 low that ended earlier this year.

As part of I.I. premium membership, an I.I. member asked to review CMG and I thought I’d share it to show what an I.I. membership includes among many other things. In this case CMG shows a beautiful, picture perfect, sequence of 5 waves up off the 2009 low to the recent 2014 high. It doesn’t get any clearer than that. You want some extra Guag with that!? 😉 Major wave 2 retraced a perfect 50% of wave 1, and wave 4 retraced a perfect 38% of wave 3. It doesn’t get more text book than that. Not shown here, but price has broken down through the daily S2 level and is now gunning for the 200d SMA at $590ish. IMHO I don’t think it will hold… All I.I.’s systems are on sell on the daily, weekly and monthly time frame.

CMG update 10222014

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