The Dow and the S&P are at their all time highs right now, but the Nasdaq is nowhere near its multi year highs (all time highs are back in 2000 when the dot com bubble burst).
There is a clear formation, with a corrective , lines below 0 and histogram falling. Price is currently resting at value, at the EMAs (look how accurately price returns to the Wave, and rallies or falls back).
Support levels at 3400-3450 and 3100-3150. At these levels, there will be a fantastic buying opportunity.
Fundamentaly, looking only at the US, there is no reason for shorting. The Fed are cutting the money supply, but data keeps getting better. The Ukraine is the big problem, and that is where all this is coming from
The 4H chart with the :