You probably have plenty of time. The Coppock Guides use is for identifying low risk buying opportunities. These occur after the Coppock Guide tops then declines below zero then turns up. When it turns up, that is where the excellent buying opportunities are. Normally there is a single top. It has completed a top and is now moving toward another top (double top or killer wave). Once the coming bear market bottoms, the double top says it will be a very bad bear maybe worse than 2009.
There has only been 6 killer waves going back to 1929. There has never been a triple top that I can find from the data I have that goes back to 1920 so once you see the market top, there will be no more tops in this bull.
It is hard to say how long it will take to complete the second top and how long it will take to fall afterwards. Generally a bear market starts soon after a second top and you must wait until the Coppock Guide turns up to get back in. Personally, I am keeping one foot in the exit and have reduced my exposure to no more that 50%. I don't think that there is a great amount of money to be made between now and the final top. I probably won't stay much longer. The Coppock Guide is not the only indicator signaling a bull market top. Margin debt is getting near historic highs. It is very hard to find bargain on good quality stocks. Probably one of the causes of a top will be the Fed trimming back on QE and this will occur next year.
The value of the Coppock Guide signals low risk buying opportunities. When there is a double top near the market peak of the S & P 500, and a bear market ensues, once the Coppock Guide bottoms and turns up, great buying opportunities are present. Double tops in the Coppock Guide are called killer waves because after a double top the average market decline is 42% if we exclude the 86% drop of 1929.
The coming bear market will see the S & P 500 down near 1,000. It is difficult to say when this will happen but after a double top on average the bear market follows soon. My guess is that we will be in that killer wave bear market within 6 months. There have been 7 killer waves in the last 100 years; 1929 (-86%), 1946 (-29%), 1969 (-36%), 1973 (-48%), 1987 (--34%), 1998 (-49%), and 2007 (--57%). There have been no false signals when the Coppock Guide has a double top. Once the Coppock Guide bottoms and turns up, the bear market is over and that is where great buying opportunities occur.