UNTIL May 2018 : PUT ALERT

Long Term : Credit Crunch 07/08 <-> Repetition of Crisis Pattern

Kondratieff : Winter [january 2000 <–> may 2018]

Short Term : Wave 4 expected to end in August 2015; next : Wave 5 until May 2018

Function : Trading

73,33yr Cycle : Full K-Cycle in one slide as follows :

1870 -> Present : S&P Real Regression to Trend @ 01^st June 2015 :

1789 -> 2018~2020 -> LongTerm Kondratieff Waves -> History & Prognose :

1945->2018 -> Kondratieff Wave – Cycle IV (or V) -> History & Prognose :