mcd2inga - I listened and I think I am more in agreement with Moe than I am Steve. Of course Steve left himself all kinds of wiggle room and did not agree or disagree with Moe. I do not subscribe to EWI. My count is that we are in cycle wave c of an abc which began at the low of Jan 2009. We have completed Primary [1],[2] of cycle c which began at 1074 and are now in intermediate (4)of [3] of cycle c. My top target for cycle c is 1567. From there we decline to below 600 in five waves.