Nice chart Rich, in 1986 interest rates were very high, in 1997 there were massive layoffs from government contractors, the 2006 bubble was from fog loans, 2009 and 2012 could be called dead cat bounces, current highs are due to low interest rates. How easy it seems to explain stuff with hind sight. I think the recent dip could be because of Qualcomm or the fear of rates going up.