Taking another look at the last decline...everybody kept saying gee it is OBVIOUSLY 5 waves. Hmmm, well if it really were 5 waves then what is the EW explanation?? Far easier for someone, ANYONE to say well, it wasn't really 5 waves and fit an ABC to it. But NO ONE ever says oops that was wrong. Seems like all the analysts, fall back on prices, trends and a slew of indicators other than EW.

Problem with that is, just like EW's multiple wave interpretations and counts,  there are endless indicators that can be used to justify one call over another (so you can always claim to have seen it coming IF you were paying attention! For example,  if the Arroon does a whipsaw, we can always focus attention to some other indicators. Don't like the 14-3 STO then try the 60-3 or the 144, or the 5-3. (now you know why some folks have multiple screens with multiple charts open all the time)

Hey crap happens, indicators whipsaw, patterns fail and sometimes it all just comes together.  More upside? Sure why not? Oh because Cramer said it might, and we all know he is the big contrary indicator, LOL!!