Monthly gas inflation has come off the bottom so this implies a SPY rally soon most likely after Dec 16 Fed Meeting.  This chart is wonderful for predicting rebounds/transitions!

This will also mean a pullback in TLT rewinding the spring (SPY up/TLT down) !

Aside: Canada votes for liberals promising new deficit spending! Conservatives losing around the world. Politics is like a flag in the breeze as each government shows to be a false hope.

The Kondratiev winter continues:

Cycles are not 20 years fixed but vary.  The character remains the same though…

https://en.wikipedia.org/wiki/Kondratiev_wave

and also…

http://kondratieffwinter.com/blog/?page_id=71

Kondratieff viewed depressions as cleansing periods that allowed the economy to readjust from the previous excesses and begin a base for future growth. The characteristic of fulfilling the the expectations of the previous period of growth is realized within the Secondary Depression or Down Grade. This is a period of incremental innovation where technologies of the past period of growth are refined, made cheaper and more widely distributed. Incremental innovation consolidates industries…..

The Growth Period is one of political stability. Staring a the peak old alliances become challenged. Through the process of the Down Grade old alliances fail and new alliances are formed. The final stages of the Down Grade is a period of coalescing or “quickening” of the alliances that will govern the next period of growth.