Thank you for that reminder.

Indeed the COT report is compelling evidence of what is soon to come. The banks haven't gone short as a vote of confidence.

Using adjusted (not 70/30) boundaries but rather 60/20 for an established bear market, I see the same thing in both the weekly and daily chart's RSI indicator. In the weekly the indicator is still pointed up but near its upper boundary and in the daily it has rolled over. Looking at the wave structure it appears to be ending its 4th wave. The fifth wave up will be the end of the run. It appears it will happen soon as you pointed out and it will likely not be all that strong. It may perhaps even be truncated and not exceed the third wave.

P