Is everything in confluence?
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NUPL × Puell — the same two gauges at every measured extreme
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What to expect, when
Fitted windows and rule dates ahead — descriptive fits over 3–4 cycles, not forecasts.
Read this honestly
Three completed cycles are a pattern, not a proof. The current bear is already running shallower than every precedent, and issuance absorption is accumulation-grade during a de-risk regime — the methods themselves flag the disagreement. If the old rhythm breaks, it likely breaks shallow and early. Research evidence — never financial advice.
Verify it on the live chart →