1. Exposition — Yes. 2. Rising Action — Yes. 3. Climax — No. Perhaps minor victory, but only as part of the Complication. 4. Falling Action — The opposite. Complication gives way to the final Escalation of Tension. 5. Resolution — Half true; actually Climax and Denouement.

The emotional narratives of conventional stories do not look like nice, arched hills. They look like stock market bubbles — because bubbles are the literal manifestation of stories investors tell each other. Start, run-up, small peak/bear trap, take off, crash/normalisation.