XJO/ASX Megaphone Pattern and Wave 2 ABC Correction

The XJO Daily appears to be topping. The retracement looks like Wave 2 ABC Correction and price has retested the trend line coming up from previous highs forming something resembling a Megaphone Pattern. Volatility should be high going into Christmas.

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Bearish outside candle. The up cycle is likely at a end for the XJO.