Carrying on from my post earlier this week (12 April) the June E-mini S&P has taken a dive. My Schiff ML set in deep blue shows that price has found support on the first reaction line and the reaction line in the red ML set may have been partly responsible for resistance to price going higher. I for one am relieved. I have been watching for days as regular divergence in CCI, RSI and Macd & stochs... all in multiple TF's increased & confounded me... and the market still went higher and then rose though the long term Aqua blue upper ML parallel. I do not usually trade the emini S&P in part due to a hard lesson learnt last Autumn trying to pick the top of this market (there wasnt one!). I have learnt and grown as a result and leave this market to others who seem to trade nothing else but am pleased that at least the old saying is true............"What goes up, must come down". It maybe a restest on the red LMLP would be a good trade but how far down will we go..23.6% Fib RT gives 1170 & 38.2%= 1145 and is this a correction or a change in trend or a possible rout!
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