Bliss, just so we are clear, I'm not questioning Airedale's labelling of the 80-week lows. I agree with him! I simply pointed out how the last 80-week low is different. And even there, I'm not saying it can't happen, because it did! The only thing I said was that on that chart, there was not much of a dip at the 80-week low and that was different from the previous ones.
I might add that it seems particularly interesting given the size of the dip at the last 40-week low and 10-week low. Again, I'm not sure what this means. Cash has speculated that the 4-year cycle peaking now may have held the 80-week cycle up or kept it from falling lower. This is an interesting hypothesis. I see that possibility and others too.
What interests me is the possibility that a bubble may now be forming.
That's all, folks! Have a good weekend.
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