1898 - A fast advance occurred in the 16th and 24th months from

the bottoms of 1897 and 1896, and a fast decline in the 17th and 25th months.

1899 - A bull year, fast advance occurred in the 29th to 32nd

months from 1896 and in the 21st to 24th month from the 1897 bottom. Fast declines occurred in the 32nd and 40th months from these bottoms.

1900 - Fast advance 42nd to 44th month from 1897 and 50th to 52nd

months from 1896 bottom.

1901 - A fast decline on the 49th month from 1897 and 57th month

from 1896 low. Top reached in June.

1903 - A bear year. In the 22nd to 28th month from 1901 top, a

fast decline-also 72nd to 78th months from 1897 bottom and 80th to 86th months from 1896 bottom. Bottom reached in October and November, 1903.

1904 - Fast advance, 12 to 14 months from 1903 bottom.

1905 - Fast moves up in the 16th to 18th months, fast decline in

the 19th month, and a fast advance in the 25th to 27th months from 1903 bottom.

1906 - Top of campaign reached in January. Fast decline in the

30th month from 1903 bottom.

1907 - Fast decline in the 14th month from 1906 top and in the

19th to 22nd months. Extreme low reached in November, 1907, in the 135th month from 1896 bottom, 127 months from 1897 low, and 22 months from 1906 top.

1909 - Top of campaign reached in October, 45 months from 1906 top and 23 months from 1907 bottom, and 158 months from 1896.

1914 - July, a fast decline in the 57th month from 1909 top, 21

months from 1912 top. Extreme low of campaign in December, 107 months from 1906 top, 26 months from 1912 top, 220 months from 1896 low, 84 months or 7 years from 1907 bottom, and 134 months from 1903 bottom.

1915 - This was a war year. March and April-fast advance on the

3rd and 4th month frcm the 1914 bottom. May-a sharp, severe decline, 90 months from November, 1907 bottom and 225 months from 1896 bottom. Note these fast moves on a 90 degree angle and 225 degree angle, which is equal to a 45 degree angle, or 180 plus 45.

1916 - April- a sharp decline, 16 months from the 1914 bottom,

123 months from 1906 top, and 236 months from 1896 low. September-fast advance, 21 months from 1914 low, and 240 months from 1896 low, the end of the 20-year cycle, indicating an important change in trend. November-top of a fast advance. Dow-Jones Industrial Averages at the highest price in history up to that time. This was 23 months from 1914 bottom and 243 months from 1896 bottom. December-a sharp decline, 24 months from 1914 bottom.

1917 - August to December-a fast decline, 9 to 13 months from

November, 1916 top, 32 to 36 months from the 1914 bottom, 117 to 121 months from the 1907 bottom, and 252 to 256 months from 1896 low.

1919 - A fast advance started in February and lasted until July.

This was 27 to 32 months from the 1916 top, and 50 to 55 months from 1914 low. February, 1919 was 135 months from the 1907 low and 270 months from 1896 bottom. The 135th and 270th months, being 3/8 and 3/4 of the circle, were very important for change in trend and starting of moves. October and early November-final top, 36 months from 1916 top. November-a panicky decline, 23 months from 1917 low, 59 months from 1914 bottom (end of five year oycle), and 279 months from 1896 bottom.

1920 - November and December-a fast decline, 12 to 13 months from

1919 top, 35 to 36 months from 1917 low, 72 months from 1914 bottom, 157 months from 1907 bottom, and 291 to 292 months from 1896 bottom.

1921 - August-low of bear campaign, 21 months from 1919 top, 80

months from 1912 bottom, 165 months from 1907 bottom, and 300 months from 1896 bottom.

1924 - May-the last low as made, from which a fast advance

started one of the greatest bull campaigns in history, ending in 1929. This was 54 months from the 1919 top, 33 months from 1914 low, and 333 months from 1896 low.

1926 - March-a big decline, with some stocks declining 100

points. This was 23 months from may, 1924 low, 29 months from 1923 low, 55 months from 1921 low, 135 months from 1914 low, and 355 months from 1896 low. August-stocks reached the highest price up to that time, the Dow-Jones Industrial Averages selling at 166. This was 27 months from May, 1924 low, 34 months from October, 1923 low, 60 months from 1921 bottom, 225 months from 1907, and 360 months or 30 years from 1896 low. Then a 20 point decline followed to October, which was 2 months into a new 30 year cycle from the bottom of 1896.

1928 - and 1929 were years of some of the fastest moves in

history.

1929 - May to September-one of the fastest moves, advancing

nearly 100 points on averages. Final high in September. This was: 118 months from 1919 top, 97 months from August, 1921 low, 240 months from 1909 top, 177 months from 1914 low, 42 months from March 1926 low, 262 months from 1907 low, 64 months from May 1924 bottom, 37 months in the second cycle of 30 years from 1896 low, 71 months from October, 1923 low. Note the strong time angles on the Monthly Chart running out in October and November, 1929, which are 32, 40, 45, 67 1\2, 75, 120, 180.

1930 - April-Last top before another big decline. This was 49

months from March, 1926 low, 71 months from 1924 low, and 78 months from 1923 low. May-a sharp decline. This was 270 months from 1907 low and 45 months in the second cycle from 1896 low. Then there were fast declines to 1931.

1931 - September-a decline of 46 points on the Dow-Jones

Averages. This was 24 months from the 1929 top. 95 and 96 months from 1923 and 1924 lows. 121 months or the beginning of a new 10 year cycle frcm the 1921 low, 201 months from 1914 low, and 61 months in the new cycle from 1896.

1932 - July 8th-extreme low of the bear campaign was reached.

This was 71 months from in the new cycle from 1896 low, 131 months from 1921 low, 105 and 96 months from 1923 and 1924 lows, 27 months from April, 1930 top, and 34 months frcm the 1929 top. August and September-a sharp, fast advance in stocks. This was 35 and 36 months from 1929 top, 28 and 29 months from April, 1930 top, 72 and 73 months in the new cycle from 1896 low, and 132 to 133 months from 1921 low.

1933 - April to July-a fast advance. This was 43 to 45 months

from the 1929 top. Always watch for culminations around the 45th month and multiples of 45. It was also 36 to 39 months from the 1930 top, 9 to 12 months from 1932 low, and 80 to 83 months in the new cycle from 1896, or running out a 7 year cycle in the new 30 year cycle. October, 1933-low of reaction, 42 months from April, 1930 top, 49 months from 1929 top, and 15 months from 1932 low.

1934 - February-top. This was 46 months from 1930 high, 53

months from 1929 high, 12 months from 1933 low, 19 months from 1932 low, and most important of all, 90 months into the new 30 year cycle from August, 1926. From this top a sharp decline followad. July-this marked the last low