S&P 500 Index
Short

SPX Adjusted For Money Supply Has Entered A 62 Year Red Zone

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Extremes tend to get more extreme, yes but we don't ignore it because the meme sounds good.
Having said that it's only a piece of the puzzle not the holy grail of analysis. Worth keeping an
eye on this chart.

Rising wedges tend to sharply correct.

Pay attention to the message of the markets and let the charts tell the story.

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