As we see, cycle is broken in 1970's. Guess what happen back then in 1972-1973? Nixon closed the gold window in USA. This means that the only gold backed currency was no longer backed. This is important, because at that time USD was (and still is) the world reserve currency. This means that back then the world completely went out of gold standard.This second chart show DJIA index against Gold price after the gold began fluctuating against USD.
May be you know this chart, may be no. Is clearly shown that we are in decline now.Unfortunately my "theory" does not shown the peak in 1980 as the other Kondratieff wave analysis, but the decline is there.
So I am expecting comments...
Update:
Here you are stockcharts.com chart.
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