“The underlying idea is that stock prices rise for approximately two years, decline for about a year, then rise for another two-year span and drop for a year. And so on indefinitely. The advances of two years, each one followed by a decline of one year, comprise what I call the medium-term counts.”1 —George Lindsay
A long-term interval provides a target range of dates but that range is very broad. “But there must be at least one additional way of counting before any high or low can be established as of prime importance.” For more exact timing, we rely on the Basic Movements. Basic Movements (basic advances and basic declines) are composed of various medium-term counts, also referred to as the Standard Time Spans.