He doesn't label the first peak which was in fact the July 1982...

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.