Observing Stock Market with Yearly Candles

This is an Observation i am making of regardless of if i am right or wrong about it.

SPX printed a Beautiful Hammer candle :



As Very bullish Hammer Candle was printed by SPX so that means Should we really expect a huge pullback or drop/crash in near term future ? I think not. Highly unlikely.

One factor why This Supercycle Wave 5 of SPX is not finished or has plenty room to run is because of Duration of Wave 5 is nowhere near comparable to Wave 1 and Wave 3.
Wave 1 and Wave 3 have spend 52 Years in Wave 1 Bull cycle and 58 Years in Wave 3 Bull Cycle.
So at the very least Wave 5 should last as much as 30-40 Years or so.

Another factor is that Wave 5 can get really extended and we can for minimum expect Wave 5 to give Wave 1 equal gains or even more so.

Therefore, it can be said using this simple observation we shouldn't expect crash anytime soon. Pullbacks happen but overall Stock Market is very bullish for foreseeable future.

Any sort of feedback from TradingView Community would be appreciated.