I've always been amused by the slight differences between British and American English (trunk/boot, gas/petrol, etc.) Here's a handy guide for those of you who are better-traveled than me:
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Over the weekend, I was thumbing through some old posts. I checked out "Shares" (see upper-right corner of blog) to see what the most popular items shared were over all time, and I happened to see this one posted by Slope's own tnRevolution on October 22nd of last year.
The chart at the top shows what he projected (the arrow marks when the normal data ends, and the white lines are his projection). I've pasted beneath it what actually happened.
So – – errr – – tnRevolution – – were you visited by an angel of God in October? Fess up!
And here's the original post:
My post will be a bit different today. As I have mentioned frequently, the current move up from the December low on SPX hasn't delivered much in the way of decent overall trendlines, so I'm going to present the consensus view from the EWers, who have had an impressively good handle on the current move up. You'll have to excuse my amateurish EW labelling and chart, but while I always keep an eye on the EW view, it isn't my thing really, and I rarely mark up an EW count on a chart.
I know that elliot wave counts are anathema to a lot of my readers, but like any form of analysis you get the best results from the best practitioners and I have a lot of confidence is the ones I follow. The shallow retracements on trendline breaks that we have seen on the current move up from the mid December low are also strongly characteristic of wave 3 moves I've seen in the past, so the overall thesis is reasonable, though I don't much care for the idea that SPX is going to rise much higher, as that seriously weakens the case that we are still in a bear market: