The conclusion from the ZEAL analysis:

"Today’s cyclical bull, while maturing, remained far from its secular resistance at its latest interim high in late April. While it did experience a doubling, that was from an anomalous post-panic low that wasn’t righteous. And this bull remains well below the average mid-secular-bear cyclical-bull duration. And if there was ever a time to see a longer-than-average cyclical bull, it is after a once-in-a-century stock panic. So despite the increasing bearish talk, we don’t have a high-probability setup for a new cyclical bear yet."