Update to the DJIA Prediction_7_4_12

Below you will find my daily chart for the period beginning on May 2nd of this year. The corrective pattern which has been in place since June 1st should be coming to an end this week. I think it is unlikely that the DJIA will push up too much further in this correction as it seems to have filled out a 3-3-5 corrective pattern. I mistakenly thought that this had occurred earlier, but it turns out that the A wave of this correction was a 5-3-5 pattern which, because of its amplitude, and proximity to 1.618% the length of the bear market fall, I mistook for a completed correction. The difference in price however, between the top of wave A and what I believe to be the top of wave C ( both marked in dark red on the chart) is not incredibly significant. This leads me to believe that the upcoming push downward, likely to begin with the remainder of this week, will be quite strong.

I have also separated and labeled the minor motive wave and its correction in the hopes of making the chart a bit clearer for those who are not already familiar with counting the waves.

All the best,

-W