Hindsight Bias in the Rising Wedge Pattern

1. Do you think nasdaq composite is entering a rising wedge pattern?
Based on the diagram, the rising wedge pattern is predicting a breakout in Q3 for Nasdaq Composite. I don't think the price reversal or crash will happen. If there's any, it's merely a short correction or pull-back.
I always believe that technical Analysis (TA) needs the support of macro factor. I see many positive macro factors that support a US bull market: AI rally, EV Tax incentives, Inflation Reduction Act (IRA), the rise of chip makers, EV industry working towards collaboration or win-win, Fed's dovish comment of rate pause, strong US labour market etc. Currently the positive market sentiments overwhelm the negative one at least til end of the year.

2. What other observations do you have from the chart?
I have observed that due overconfidence, some experienced traders often make a common financial mistake called hindsight bias - selectively choose information to confirm what the target price or price trend (what they believe to be true).
1. Rinsing Wedge patterns don’t always signal a price reversal. While the wedge pattern does illustrate a consolidation taking place, the setup can often prove false, with price movement continuing in its upward direction after the wedge has been fully created. As stated above, macro factors are also equally if not more important.
2. Wedges can take a number of different shapes, and traders may sometimes force a wedge pattern onto a price chart rather than identifying one organically - hindsight bias. Keeping investment journal to review decision making can minimise hindsight bias.