If you study any of #TheStrat created by Rob Smith, the 1 hr. chart on ES is presenting a megaphone pattern or what The Strat calls a broadening formation.
If the 45 degree angle theory is true, CMG should now be bullish again.
I use a mathematical formula to forecast levels (points) on stocks. Here are my forecasting levels for S&P 500 for week of May 12-17, 2019.
According to my analysis, downside is limited on TSLA going into ER. The median line curves as well as the outer curves are all pointing in an upwards direction indicating that the bottom may be in.
These are the levels that I've calculated that the S&P should bounce at this week. We need to hold the support at 2474 or we break down further.
If S&P doesn't bounce between 2518 & 2622, we could see much more downside.
AAPL needs to clear 182.9 for more upside continuation.
This is using the Center of Gravity study. The theory is that everything reverts back to the mean or median or center. Being that the curve is projecting upwards, AAPL may run tomorrow heading into ER. This is a complete new analysis for me. So, bear with me as I tweak it.