Today early we told you that @muscleNerd has confirmed that he has got a backup to untether the Jailbreak for ios4.2.1. And @MuscleNerd showed a quick video demonstration of the untether jailbreak he had done to the iPod 4. This means Untether jailbreak for all iDevices.
And @Musclenerd said that he will wait for @Comex to come up with a proper solution and he is working on it.
Meanwhile a person asked @Comex that:
So we can expect the jailbreak before Christmas or on Christmas. It is confirmed by @Comex.
Let’s hope all goes fine and we get an untether jailbreak or iOS 4.2.1.