pascoe-meter update, page-12

Maybe Michael Pascoe's onto something.

The classic crash chart goes: stealth phase, awareness phase, mania phase, blow off phase.

In these phases are:take-off, first selloff, bear trap, media attention, enthusiasm, greed, delusion, new paradigm, denial, return to normal, fear, capitulation, despair, return to the mean.

I would interpret it this way:

[1] First selloff
[2] Bull trap
[3456] 'Return to Normal'.

The next one is fear, maybe.