re: buy now? - surge
The only issue I would raise about your mid-70's recovery theory Surge is this - look where the market had fallen too before it bounced.
Each time it has fallen like a stone from the top resistance line once the fall began. It has never bounced off the median (pink) line, always the bottom support - and even that failed in the early 80's after the recovery which was halted at the median line.
Anyway, its a chart worth revisiting over time. The sheer magnitude of the time scale can make one forget that these rises and falls each took years to occur.
