The ACWI world composite, unadjusted for inflation, peaked in July 2024. The index is in the lineage of the US hegemonic 1807 36/90/90/54 year great x/2.5x/2.5x/1.5x Four Phase Fractal Series ending in 2074 with progenitor nadir valuations in 1842-43, 1932 and with an inflation adjusted 90 year third fractal peak in November 2021.

From 1932 US equities followed a 10-11/21-22/21-22 year fractal series :: x/2x/2x ending in 1982 ending with high Volcker QT fed fund rates that have since cascaded lower and lower and post the 2009 global housing bubble collapsed to near zero.

Low inflation during this low interest rate period was facilitated by imported low cost manufactured goods from China, use of natural gas as an energy source, and fracking which elevated US oil production and export to levels not seen in decades. During covid, historically large % GDP deficit spending, 2.5-3% mortgage rates, supply line disruptions, and corrupt corporate price fixing produced a 10% inflation rate. In response the US central bank invoked Volcker-like QT with an inversion of short term -long term bond yields that has lasted more than 600 days, longer than the inversion leading up to the 1929 crash.

The observed fractal series since 1982 is 13/31 of 32 years with an expected large scale 2024-2025 second fractal crash. (See main page of the Economic Fractalist). This is part of a 13/32/32-33/20 year :: x/2.5x/2.5x/1.5 x interpolated fractal series ending in 2074. The third 32-33 year fractal starting in 2025 will see the greatest monetization of national debt and social contract liabilities in world history.

The yearly fractal series groupings since 1982 can be observed using the SPX. The first 13 year fractal is composed of a 3/7/5 year series ending in 1994. The second fractal is composed of two series: 3/7/7 years and 4/8/7 of 8 years ending in 2025.

The terminal portion of the 1994 current 31 year second began in March 2020 and follows a 8-9/24/23 month :: x/2.5x/2.5x fractal growth sequence peaking(unadjusted for inflation) in July 2024(July 6 to be exact). The 23 month third fractal of the 8-9/24/23 month series is composed of a 5/10/10 month series. The third 10 month series started in October 2023 and is composed of a 13/28 of 31-33 week :: 59-60/149-150 day series expected to end on about 12 August 2024. This is the incipient 13/31 of 32 year 1982 31-32 year second fractal crash.

The final nonlinear daily decay appears to be a 7-/13/13 day fractal :: y/2y/2y ending 12 August 2024 with a possible lower low extension of 8-9 days (y/2y/2y/1.5y’). Will the August 12 2024 low and the possible extension low be below the Oct 2023 low? During the next 8 trading days ten year notes will trend significantly lower …