S&P 500 / M2SL testing ATH.

M2SL growth was approximately linear before the COVID dump last year. Money printing has increased since and thus it makes sense to divide the market by this increase in money production to view approximately how the market would be performing pre-COVID.

We can see that by doing so, the S&P 500 is about to retest the ATH from before the COVID dump. A rejection from this level could be disastrous for the markets.