S&P divided by money supply is at the same resistance level than 2007 financial crisis and pre-covid top. Also matching 0.618 fib retracement. + bearish downside channel on the RSI Potential trend reversal on S&P
I don't understand this chart. What is the Y-axis.. money supply? Where do we get this info? How can I replicate this chart at my end?
Would love to hear back from you on this, and learn to use this technique myself.
Thanks :)
emexelem
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@the_stud_monkey, The Y axis is SPY divided by money supply. It allows to balance all the gains made by the SPY by all the money printed by the FED.
You can actually perform operation in TV between multiple charts. In this case, that's ES1!/WM2NS.
Would love to hear back from you on this, and learn to use this technique myself.
Thanks :)