9 Jan 2012

we have trended sideways to down since our post this mid-day.  The 5th wave was not yet completed and looks as if we are still in the 4th.  Therefore I am expecting a move up tomorrow to surpass todays high at the least.  This would allow for the Stoch. to diverge with price and as some cycle analysts out there are expecting a significant day this would fall in sync with an important pattern.

EW theory would classify this as an ABC move for 2nd wave if we don't surpass the Sept. 2012 high.  If we do surpass the highs then we could be looking for higher highs for more continuation of an ABC ending 5th or this would extend to a bullish 3rd of 5th wave diagonal.

We have an update today from Ernie Quigley that says a minor top this mid January might be turned into a significant top that will turn down till 2016.

"Mid-January is very rapidly approaching. I am

very alert for signs that a short-term high may turn into a high of greater importance."

Ernie Quigley