Diagonal Triangles -  the key to market reversals

Diagonal Triangles are a fairly rare Elliott formation  where wave 4 overlaps wave 1, that occurs when a move has gone too far, too fast, which signals dramatic reversal ahead. Diagonal Triangles subdivide into 3-3-3-3-3.  Once the Spike from a diagonal triangle completes, the price returns swiftly to at least where the first diagonal began.

Below is a two-year, 5-wave bull market advance in the S&P 500, notice how different it is from the current patterns below.

Now contrast that with a Bear Market about to reverse dramatically, full of Diagonal Triangles. When more than one diagonal triangles appear on several degrees of trend, each additional diagonal compounds the violence of the subsequent move in the opposite direction.

Below you see the weekly chart of the S&P, with the identical diagonal triangles. The upcoming reversal is due to be extremely violent. A Crash is nothing more than a violent reversal.