are the bulls back, page-52

With post 87, started with cycle fits there before recent couple years. Fit came in nicely without any large amplitude medium term cycles at 0.295yrs (stnd error of .001yrs), or ~3.5months, bit less than the current 4month cycle.




In late 80s, interest rates worldwide were already in long term gradual decline, along with commods, giving stock markets its current large amp ~40yr cycle.

Increasing PEs supported by decreasing interest rates boosted the markets into next major upmove in the 1990s.

Rates are pretty much at multi-decade lows now, commods and developing economies could provide the boost during the next decade or two.