Scroll or drag to move the time axis · hold shift for the value axis · drag either slider
The 200-week average has not been closed below for long in any past cycle. Four cycles is four observations, not a law.
Every value plotted for a past date could have been computed on that date. Normalised series expand their window rather than scaling against the full history, so nothing here is drawn using information that did not exist yet — which is also why the early years of a normalised series are dropped rather than shown against a range of one.