we'll be right tuesday., page-92

Many moons ago, my broker who was an "Uncle" of 2nd degree or so, suggested to me that after a good move, when you got a ranging period, it was the midpoint of a move.

We will see. If that is what we have here, then we are just halfway down in many markets.

Yeh, it can be explained as a flag etc., but 30 years ago he was just a non technical but long term observer of markets.