I think most of you get this, but from a few Comments, some of which never saw the light of day here, there remains some confusion about my charts and analysis.
The above chart is a Weekly SPX with two analysis methodologies applied. First, an internal Elliott Wave count which is suggesting an uncompleted cycle down, i.e. a Wave 5 is still to come to new lows.
Also included is an ATR_TrailingStop indicator (LONG/EXIT-SHORT), that signals price bias without regard to the EW analysis. These are longer term signals, not trading signals, but they do a pretty good job of staying on the right side of price direction. Meanwhile, EW analysis is suggesting where prices are in the cycle and what to expect next.
Here is the same chart, only I've replaced the ATR_TrailingStop indicator with the Blue Wave Trend indicator. As with ATR_TrailingStop, Blue Wave does a decent job of getting the prevailing bias in price direction right, but does not use EW in any way, shape or form. The are two completely different methodologies, useful in their own special ways.
I have been providing both indicators in almost all of my charts as I believe both views provide valuable insight into where prices are and where prices are going. Drilling down into smaller time frames brings commensurate insight into current and future price action.
Some of you get this, some of you are confused by it and some of you manipulate the information provided to submit snide remarks about this free commentary and analysis. It takes all kinds to make a market and I need only review the nature of submitted comments to differentiate between the winners and losers out there.
Those of you in the middle, who find yourself fascinated but confused and want to learn, hang around and be patient, it's coming.