No we are not in the final stages of a phase transition. We are still inside the normal channel. To create the phase transition, you have to break through the top of the channel and then really run crazy. In gold, we reached $400 in early December 1979 and then rallied to $875 by January 21st. The Nikkei phase transition was 13 months with the market rising from 28046 in October 1988 to 38957 by December 1989. A Phase Transition is near a doubling in price. That on the Dow would be close to the 30,000 level. That is not a forecast, just an observation.
