NeoButane

Big Tech in for a Big Drop?

Short
NASDAQ:TQQQ   PROSHARES TRUST ULTRAPRO QQQ USD
Here's TQQQ divided by the M1 money supply.


Here's QQQ divided by the M1 money supply.

By dividing by M1 , we are able to see the supply adjusted value of the share. I chose to use TQQQ instead of QQQ for a short because it looked pretty cool making a triple top when divided by M1 . Haha.
My published indicators: https://www.tradingview.com/u/NeoButane/#published-scripts

Sorry if I haven't replied to your message yet, I'm a bit backlogged :)

Comments

That's weird how it bounces off the exact same line for TQQQ.

It's also weird how TQQQ keeps bouncing off the top of this logarithmic channel:


Do you think this is just a coincidence or is there some underlying mechanism?
+1 Reply
NeoButane mikepsinn
@mikepsinn, Hard to say. Drawing tools are and can be accurate, but it cannot be confirmed until the pitchfork plays out.
+1 Reply
Check the VIX, we're gonna see some fireworks soon🔥
+1 Reply
Interesting money supply charts.
Reply
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