Let's move on to CVS, this is the last one. I think this is an interesting graph that deserves close attention. CVS has an expected decline from 10.5 to 12.7. This is tape 32. It's been obvious for years. A really good graph.
Remember, towards the end of the cycle, what usually happens is that you see some selling, right? You can see that here. Oops, we're entering a box here. here. Here, isn't it? Look at the late highs.
Do you see that? I don't know . I just want to highlight this. This is important. Look at the delayed rise. Look at the angle of the Relative Strength Index (RS). Here below. Here below.
It's completely flat here. I wasn't going to do anything there, but I saw a final downward movement. The later elevations are extremely interesting. A slight rise there with the RS indicator remaining stable at the bottom.
This is a truly classic move. The elevation is here, with RS remaining stable at the bottom. Look what happened. A test of the bottoms, then he was beaten. Here, there was a slight upward swing in the RS indicator, so it's not an ideal setup.
But when you see the RS indicator firmly down with a bounce, as it did again, I think that sets the stage for something similar to what happened here.