Yes, this (tax-deferred selling) is my opinion on what will happen, and it would potentially push the end of the 9th month cycle, which is late now, though not too late (should happen by mid Jan). It could snowball from tax selling into a decent consolidation, or even a reasonable facsimile to the Nikkei parallel drop at this point.
In early 2000, many may well remember the last time this situation occurred:
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