Wrap next stitch means you will be doing short rows. You'll slip the next stitch purlwise, bring your yarn to the front (or back if it's already in the front) slip the stitch back and turn your work to knit/purl in the other direction, even though there are stitches left on your needle.
"Trust the pattern!"
Time flies like an arrow, but fruit flies like a banana.
Hop aboard while we follow the cloud-covered van of knitting harmony, man!! Woooo!! --Hedgehog