Thanks for the reply. Two questions, well more accurately one question and one request.

If the cycles are stretched during active QE 'manipulation', for lack of a better word, does this elongation of the daily and intermediate cycle affect your data going forward? Allow me to phrase it a different way: Do you make adjustments to the the respective daily and intermediate cycle mean lengths now that we've experienced 3 years of QE in some form or another (QE1, QE2, and Op Twist)? For example, if your typical daily cycle is 21 days but under the influence of QE it runs let's just say 30 days and that elongation persists at what point does your mean daily cycle length move outside the historical range of 18-24 and do you correct for this by putting a larger weight on data pre-2009?

And please remind me when you anticipate a nesting of both the daily and intermediate cycle troughs? I want to make sure I'm well prepared for any significant correction to this most recent rally.