watching to see if the 618 extension is exceeded or not

some interesting commentary from Carl Futia   http://carlfutia.blogspot.co.uk/2013/01/here-is-daily-chart-of-dow-industrial.html

 "Just looking at the chart and applying the principle that higher highs typically follow higher lows I can project two obvious upside targets for the Dow. A rally from the December 28 low which matches the size of the rally from the November 16, 2012 low would carry the Dow up about 900 points to roughly 13,800, a new high for the bull market which started in March 2009. A rally from the November 2012 low which matches the size of the June-September 2012 rally would carry the Dow to 14,100.

Those of you who are following the evolution of Lindsay's three peaks and a domed house pattern should know that I think the rally from the November 16 low will end at point 27 of the domed house and probably will be a new bull market high. If this is a correct interpretation then the subsequent drop will probably carry the Dow below its June 2012 low. "