Again long strikes are not characteristic of this phase on the long wave. As I suggested a couple of weeks ago we are seeing a minor top that should see some sideways backing and filling during the normal summer doldrums before we make a new bottom this fall for the next advance. There are a couple of points that I would like to stress. We are in the secondary depression phase. There are a number of events that reinforce this scenario.
Inflation is low.
Free trade agreement are being enacted e. Again the peak in long bonds should mark the end of the secondary depression. The consolidation of small companies into larger ones. Again there is an economy of scale that was not present in the Primary Recession and Plateau Period. I would be interesting to hear from others with other sign posts that I am probably missing.