[WMT] update

It is a matter of record that I called the Nov bottom for WMT and now I think we can also suspect that my late Jan topping call is probably going to end up being correct as well.  From the backlink we had the model below.



Current snapshot show that this began to fall almost immediately after my negative post.  Am I moving the markets with my wonderful commentary?  HARDLY.  And neither does anyone else when they comment although it might appear so to those who haven't been let in on the big secret of Elliott Waves.

Let's consider for a moment if I walked up to someone in the street and told them this was going to happen but I didn't explain why it was so ripe to happen, so likely to happen.  When it happens they will think I really understand the business of WMT because, after all, the markets are efficient in their pricing mechanism (cough cough). 



In any case, I count the action since the peak to be wave 1 down which tried to break the lower rail but which did not have the stroke to do so. Then a rally back up to just now fill the gap.  I think it begins to head back down from here.  Note the GOE in the middle of the current wave.  It should be penultimate meaning B of C of 2.

In order to break that lower rail down we will need the power of a 3rd wave so I put the odds at very good that WMT is about to take a major dump.

Those who like to play the big odds might want to consider the Dec 2016 $55 puts, now trading with a 10% spread in the $2 range.
http://finance.yahoo.com/q?s=WMT170120P00055000