Thebreadthof the changeand itsimpacton the organization is consideredabove everything else, whereas the depth of the change is usually the focus in verticaltop-downorbottom-upapproaches.
Essentially Ralph makes his case by citing the predominantly negative and skeptical tone of the commentariat, the blow-off top in treasury yields and the undeniably positive breadth between disparate stocks, sectors and even global markets (see: 11 Reasons Why Ralph Acampora is a Secular Bull ).