We are down almost 2000 points on the TSX. The top was probable in April even if it is hard to tell. From there it looks like a series of 1-2s was made. At least 3 but perhaps 4 if we are now in wave 3. Today’s 460 points was big relative to what we had before and this is an indication that the “point of recognition” may not be that far away. Roughly that occurs somewhere close to the middle, which tentatively targets about 10,000. This is very tentative!!