The weekly view of the Top 40 can only be interpreted as a bear trend.
The time-frame is of a high order.
Looks very much like Intermediate (C) commencing. This can be a Primary degree correction with the main legs of Intermediate order but more likely to be a Cycle degree correction.
If it is the Super-Cycle correction, which is actually more probable than bears thinking about, then the main legs will be of Cycle degree.
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