I was taught in horticulture class in highschool pinching 1/8" above the node is to promote growth, pinching 1/4" or more above node is to deter growth.
That pinch looks a little high to me. Notice the dead end of the stock. That is the indicator of slowed growth, pinching lower would prevent that.
That is what I was taught, later I learned that my horticulture teacher was a serious cropper hooked up with a nation wide distributor. They are both dead from old age now.