Video on the Wall of Worry

The presenter discusses whether the market was climbing the wall of worry or riding up the slope of hope.  He displays a chart of the S&P 500 and illustrates a pennant formation on the index which broke down and signaled the resumption of the bear market, culminating into a wave 5 bottom of an elliott wave pattern.  The rally off the October 2008 lows was riding up the slope of hope rather than climbing the wall of worry.