My Current Analysis of the S&P-500 by Sid Norris from ElliottWavePlus.com

From an Elliott Wave perspective, my top two wave counts are shown. The main count is that an incomplete expanding leading diagonal to the downside is underway starting at the September 21 all-time high. The alternate (shown with question marks) is that an intermediate degree (black) wave 5 to the upside commenced at the December 24 low.

See How Elliott Waves Help You Avoid “Getting Married to the Trend”

See How Elliott Waves Help You Avoid “Getting Married to the Trend”
Most investors make the mistake of linearly extrapolating a financial trend into the future, especially at junctures when that trend is near a turn.

In everyday terms, it’s called “getting married to the trend.”

Here’s what Elliott Wave International President Robert Prechter said in his book, Prechter’s Perspective:

Seeking Certainty in Uncertain Times? Draw a Trendline | Learn How

Seeking Certainty in Uncertain Times? Draw a Trendline | Learn How
Trendlines are simple straight lines connecting two price extremes on a chart. When you draw more than one, you create a so-called trend channel and see both the future trend and trend reversals.