Note: Cycles can happen, yet not produce a new ATH and simply be a bear market rally

The biggest problem this space has, is thinking a cycle didn't happen because it didn't behave the way they expected
Doesn't mean it wasn't a cycle
Smaller degree cycles, known as intracycle harmonics, exist within larger degree cycles
The smaller degree harmonics will behave different depending on where the smaller degree cycle is in the larger degree cycle
Past the larger degree cycle amplitude, and it becomes more likely that cycles are bear market rallies