We see some major indices in final stages of an extended third wave, that could cause a temporary high on stocks, as we expect a deeper retracement in to a corrective wave four. On some of them we also see a wedge pattern in current late stage of an uptrend. It is called an ending diagonal, that usually causes a sharp reversal that may happen sometime this year.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.