MINOR CORRECTION AND UPDATE: 1_4_12

I wanted to make a correction to my last post. The ceiling for my current wave model is $12,876.00, not $12,832.  I mis-read the DJIA chart in my last post as to this fact, and it is obviously important, considering that the DJIA came all the way up to $12,869.95 as of yesterday (Feb, 3rd 2012). $12,832 was the high of the DJIA on the last Friday in April of 2011, before its actual peak that following Monday, May, 2nd 2011, which clocked in at $12,876.00.

I have laid out the remainder of this c wave in the above chart and am holding true to my prediction for  negative movement in the DJIA in the coming weeks.If this wave moves past the peak of $12,876.00 in a significant way, the underlying trend is very strong, and the negative movement I am predicting will possibly occur  within a week after the market finds its top. The movement in this case will be very strong because the correction will have then shown exuberance beyond its natural boundaries. 

All the best,

-W