If we turn again to the theory of cycles. It’s likely the peak was reached on October 6—slightly earlier than the forecasted November–December range, but overall it fits the pattern. Of course, I’d like to see a new ATH by the end of December, but right now the likelihood of that is practically zero. The optimal point for opening new positions, in my view, could be the end of 2026. Imagine rates continue to decrease, but the economy still goes down—markets fall.