Hi Peter,
Yes I agree that the 17th was a 5 week low. Cycles are running longer. And yesterday was a 1.25 week which I expected.
To see the bearish outcome, you have to agree on my phasing and I think I laid it out fairly clearly as to what I see. The 40 week lows marked by the summation index is key and I have assumed for a long while that late August 2013 saw the last 40 week low. If true, cycles are running much longer now.
We'll know next week because that is when I expect things to get moving one way or another. GLGT.
cheers,
john