Is the market already in the second half of the bull market?
This cycle is likely to be a double-top or triple-top prediction:
If there is no recession before the US election, then this may be a double-top structure, and the second top may be when the money is released, which may be in 2025 or 2026, which is the second top of this cycle.
In the case of triple tops, if the US economy declines before the US election, then the first top is likely to be the approval of spot ETFs, the second top is the US election, and the third top is the money release. These three top cycles or double-top cycles correspond to the high and low points that I may expect in the industry.