The price is becoming too steep. A healthy trend is around 45 degree. It is not good time to invest in something that is too steep.
However, we haven't passed the level yet. So, let's wait until a breakout occurs.
Something bad is about to happen to the stock market, I believe.
In daily chart, we see gravestone doji. Meaning is that the price attempted to advance. Yet, it was overcome by bears quickly. However, I don't expect that bear market will continue longer, as on Wednesday, FOMC meeting is taking place, which will give us a general direction of the price.
According to wolfe wave strategy, the 5th wave should be above the channel. Here we go. 6th wave is the target.
The price clearly shows that it broke the trendline. So, I believe that it is retesting it.
In daily chart, we see a shooting star appeared near the resistance zone. Plus, in other chart, we can see an exhaustion gap, which indicates that the reversal is near.
The breakout has just taken place. So, expected it to increase.