24
TIME: CYCLES AND SEASONAL PATTERNS
Answers
1. 
2. adjustment, longer, opposite
3. cycles, cycles, cycles, cycles
4. A.
5. A. B is a normal phenomenon in a bear market where it is expected that each succeeding peak will be lower than its predecessor. This type of characteristic is not expected in a bull market; hence the expression “failure.”
6. summation
7. 
8. D.
9. B.
10. E.
11. proportionality
12. nominal
13. C.
14. C. These are defensive groups and, therefore, tend to do better in weaker environments for equities. These are average numbers ...
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