SPX / M2 paints a very different picture of the global marketThis chart shows the SPX/M2 and essentially paints a picture of the SPX when accounting for inflation.
All the "gains" made in the time following the 2008 crash, after factoring inflation in, simply put price or "value" back to where it peaked.
How interesting that the 2020 crash should occur at such a pivotal TA level, forming a near perfect sweep of highs and double top.
From this view, it looks as though the price action following the 2020 march lows is simply amounts to a bearish retest.
Will be an interesting one to watch as the money printer fires up yet another round of QE.
Brrrr, brrrr, brrrr.....
