SP500 Choppy Bullish Decade: To all time highs but not really

2023 has another peak and rejection from the real valuation line in the sand (Yellow LIne)

real valuation is SPX/Monetary supply


Reset in progress, Expecting rally again to test in 2024 and 2025.

This produces choppy, fearful activity however over time value will trend higher.

Again mid term bearish when we hit bottom line

Breaking red line is change of character into real Ultra bearish possibilities. (might happen in 2027 - 2030) where market is trained to buy dips but will be a legitimate bear trend