He doesn't label the first peak which was in fact the July 1982 major low here with a reading about 28% (currently 26.71).
My only caveat is that it is possible this is a 1974 repeat, but assuming it is, is long odds despite some quite convincing similarities.
I believe we must assume a bottom is very close and give it all the benefit of the doubt until proven wrong.
de ja vu, page-117
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