Potential short term/medium term peak this Jan 2012

With regards to last month's post:

http://theamazingchart.blogspot.com/2011/12/we-may-expect-xmas-rally-to-end-2011-12.html

Quoted:
""Elliot Wave Analysis suggests that we are currently on the Mini Wave b to Mini Wave c to finish the Primary Bear Market B rally.

In addition, the Mini Wave b to Mini Wave c rally is still in good shape, and our tentative target time to finish Mini Wave c rally, has passed the 0.7 timeframe target which is on the Dec12th. The current pullback on EUR and US behavior is exactly what we are expecting.

Mini Wave c rally composed of 3 waves , we expect almost the same formation as the mini wave a rally last November.

I believe Santa would be nice to Europe and to the world, and mayhem/selloff may be dalayed toas early as Jan 1st week 2012.

.7 = 21 days = Dec 12th (removed)
1.0 = 30 days = Dec 30th
1.618 = 40-45days = Jan 15th 2012""



Charts and Equities behavior showing the Wave characteristics we have forecasted are on-track with what we have expected. Tony's blog also suggested that Primary Wave B of the Bear Market rally might have ended already. In my own opinion,this can be backed up by the Negative Divergence of the Daily and Weekly charts of Dow Jones. This week to next week is critical to markets, if it does not move higher, we may have seen the peak of this rally. And if it moves above 12500, we may revisit the 52-week high 12870.

Enjoy!