ES [CME: ES1!] - 2026-03-18 - DPVA Levels + Elliot WaveE-mini S&P 500 FuturesCME_MINI:ES1!crlmxES - possible major top • Zooming out we see a1 year uptrend from the lows of the 2025 Tariff Crash • Shaping up to a rounded top on the daily TF • Potential bearish head and shoulders pattern forming also on the daily • This is supported by DPVA confluence with strong resistance at $6.9K • Further DPVA resistance at $6.96K • Elliot Wave - Wave 5 with a 0-1-4 projection pointing at $6.9 to 7.1K • Elliot Wave - Confluence from a lower degree wave C projection (weak) • Elliot Wave - this could be concluding a 5th of a C of a 5th of a 5th • Elliot Wave - Origin of the highest degree 5th going back to March 2009 - this could be the entirety of the impulse the market could potentially correct next. Beyond the technical picture, there are a plethora of macro considerations supporting the narrative for a larger correction.