CME EMINI SP500

After the completion of the 5th leg of the expanding diagonal , a significant downside move is expected to take place.

emini sp500 mar21 daily.jpg
 
ROASO:
He said that William R. Travers, who was bearish, once met a friend who was bullish. They exchanged market views and the friend said, "Mr. Travers, how can you be bearish with the market so stiff?" and Travers retorted, "Yes! Th-the s-s-stiffness of d-death!"
 
Why ?
Hesitated rally with lack of sufficient momentum to maintain a strong impulsive rally .EW studies suggest an expanding diagonal triangle which will end up with a significant correction.Price/ oscillator divergence + the market is moving higher in low volume which are not supportive a strong MT trend.


emini sp500 mar21 daily 2.jpg
 
Hesitated rally with lack of sufficient momentum to maintain a strong impulsive rally .EW studies suggest an expanding diagonal triangle which will end up with a significant correction.Price/ oscillator divergence + the market is moving higher in low volume which are not supportive a strong MT trend.


View attachment 251306

What made you connect points 2 and 4, vs. say, "Y" and 4?
 
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