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The attached chart shows monthly points with weekly bars.
The danger here is that if the next point (3rd quarter 03) due is a low, as opposed to inverting as a high, we are in for a nasty ride perhaps.
That would mean that...
Now in the process of a 16 month down leg; then only 3 months up, then 12 months down.
Pretty nasty if we're looking at 33 out of 48 months being down...starting from the last high.
If this next point is a high however, we should be in good shape...33 out of next 48 months being highs.
Too long term of a perspective to worry about though.
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