This is a really great study. Well worth your time.
Although it is really strange they never reference Longboard’s study from a few years ago, “The Capitalism Distribution“.
Charts then download:
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Download PDF
Agony and Ecstasy
Website
https://www.chase.com/content/dam/privatebanking/en/mobile/documents/eotm/eotm_2014_09_02_agonyescstasy.pdf