https://pbs.twimg.com/media/FnOyp3wXoAIhQjY?format=png&name=900×900

Horvat’s s/t chart for the DAX.
Decent chance this pattern is far more general.
However, completing the impulse could be for larger 1 in a bullish run (ultimately to new highs).
Or five waves inside wave c of an upward correction “to B”, ultimately bearish as large C down follows.
For nimble traders, it doesn’t matter.
Prepare for Risk Off at the next new highs, and then observe whether we sag (in bull 2) or crash (in bear C).