Every individual asset class including commodes and cryptocurrencies can be thought of as being denominated in the total valuation of all (global)assets. When stock valuations decline, bonds lose book value, or debt is defaulted, the total global valuation is diminished. Two to ten year US Treasury yield inversion is the hallmark of Federal Reserve credit tightening and has preceded recessions in 1972-4, 1980-2, 1990-91, 2001, 2007-2009, and 2019-20. This time is different, a much greater % to total debt to GDP exist and a colossal quantitative amount of bad debt needs to be liquidated. The Zombie corporations like many ditsy start-up tech companies, the ARKk ETF, and airline companies have led and will lead the equity valuation decline.

The peak for the CAC and secondary peak for all other equity markets occurred near 14 April 2023, a 33/72 (ideal base 29 x’)/58 week :: x/2.5x’/2x’ fractal growth series. The 58 week third fractal is composed of two weekly series: a four phase growth and decay series of 5/11/10/7 weeks and a 6/13/12 week three phase growth series. A 9 week decay series is coming next.

The final daily series for the French CAC’s second 6/13/12 week fractal series series is 26/62/52 days starting at the low on 29 Sept 2022. and ending at the 52 day high on 14 April 2023. The 52 day series is composed of a 9/22/22 day fractal. Interpolated within this is a 13 March 2023 10/14 of 21/21/13 which completes a 26/62/52/39 day series. The 39 day 9 week decay series would serve as a base for a 9/18-19/18-19 week series completing a four phase March 2020 33/72(ideal base 29)/58/43-44 week series.