the gann45 hocus-pocus analysis, page-109

Morning Gann, i used to think we would stop the bear about here but it was when I studied kondratieff's work that i began to have some doubts. We are in a K wave winter...the characteristics are a complete and utter collapse for about 3 years followed by about a 15 year depressionary period.....when the DOW first listed it was right at the end of a Kwave winter....after the depression of the late 1800's. in all the time since the DOW has been listed we have only experienced one other K wave winter which began in 1929 and what happened then ?? total and utter collapse for nearly 3 years and then depression and war and about 15 years till the spring came.

there will always be opportunities for the optimist I should hasten to add....look at 1932 - 1937. It's just that i don't think it wise to judge this bear market against most others we have seen since the DOW listed.