hmmm this turned into an armstrong thread , where he is the standard.
in 1929 the public was cash rich. there was an 8 year expansion culminating in the top of 1929
today the public is broke , folks barely have enough savings for 3 months of living
the public is not a big participant as it was in 1929 , also in 29 you could buy stocks on 90% margin,
not so today.
this biz cycle is ending and when it does in 18-20 the top will be in place. i have no idea for the parameters
i do think we are seeing the top of 3 here. which should happen in this aug/oct time period