Here is an update to the chart presented on January 1st, 2016. As you have likely heard by now, the first week of the year was a stinker! This pretty much followed the script and count we had outlined on January 1, and we were able to call it wave-by-wave in the real time chat room.
The Expanding Leading Diagonal does call for lower prices in the eventual C wave, and so, at some point we would expect the low if Intermediate wave (W) to be taken out lower. The only restriction of the valid diagonal at this point is that price may not travel above (X), and still expect minor C lower.
Cheers and enjoy the chart!