I will have to study it some more. First glance it doesn't look bad at all.
What really caught my eye is that he is basically playing M12, and not the traditional 12,26,9. He is using 12,26,6. As you know I moved to 12,26,5 years ago..
Most bear markets are 6 to 9 months. So chart makes lots of sense. Only thing lacking usually on last drop most give up. It may have happened or it may in future but 390 area seems reasonable point for initial 25% entry. IMHOP.