This definitely looks like a “wedge” that is an ending diagonal, a terminal structure. There may be a few dollars left, particularly if there is a throw-over but whether or not that happens the next big move is back to 135 or so.
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Nasdaq
Wave 1 of 5 up is clearly a three wave structure. This is only possible if we are going to have a “diagonal”. That would imply that the structure is pretty well complete ( as opposed to the idea that just wave 3 of 5 is complete and there is still 4 and 5 to go ). Note that the RSI is right up there in overbought territory. This is it.
RUT update from May 21, 2 weeks ago
See previous blog on RUT. We are getting to the point where this thing should collapse, both as measured by time and value.
WEED, Canopy Growth Corp.
The stuff is still illegal in the US, at least on the federal level. Consequently they are coming North to do their IPOs. Here is a Canadian one that has been in business for a while. A first impression from the chart is that, here too, there might be a triangle which would suggest a new high. Another possibility is that the top has been in for some time and we have already completed an initial A down and a B retracement to about $40. If correct there is a rather dramatic drop straight ahead. Maybe you do not want to stick around to find out which of the two is correct.