S&P500/M2 Shows Major Resistance Overhead

We're at a major resistence level here on the S&P when M2 is taken in to consideration, going back to 2002. We're looking at S&P Futures divided by M2 , and as you can see, this looks like the end of the road, folks. One thing is certain, whatever happens next for markets is going to be epic...
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I agree with you, and every fiber of my being says to short this monstrosity. But for months now it has ignored all TA as well as any fundamental analysis. I don’t see any reason why this is going to be any different. That being said I’m still holding my shorts. Just not sure why “this time” is going to be any different.
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Evdog9000 kretchfoop901
@kretchfoop901, I'm holding too. Been getting wrecked by the masses but I'm just adding. This thing is gonna crack.
Probably gonna be Jerome saying that they might think about talking about tapering LMAO. Then they'll freak out. No more free drugs?!?!?!
Don't worry about what will cause it. We all knew about Covid for months until the market reacted and then everybody's like, "well that has to be why right?" No. Yes Covid is real, but the markets were gonna crash either way.
They'll sell you the spin on it after you've lost half your 401k.
+1 Reply
@Evdog9000, Well said!
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Hedge_Of_The_World kretchfoop901
@kretchfoop901, For sure, same here. Super frustrating, but the house is coming down, and it doesn't look like we have much upside left at this point.
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I agree with you but that M2 data is outdated.
+1 Reply
Hedge_Of_The_World igarrettmatthew
@igarrettmatthew, For sure, you're absolutely right. It's showing as at Feb, but we're not off by much. The most recent (April) M2 figure is just over $20 Trillion. So M2 on this chart ($19.4 Trillion) is off by around 3.6%.