Under the current market conditions aka high Inflation I think it makes sense, to look at all assets vs M2 money supply instead of the USD. USD losing value against assets so quickly, that classic technical analysis is limited.
As you can see, if valued against M2 the SNP is still about to recover from the dot-com-bubble. I think it will take about the next 5-6 years to revoer that, which would be a 50% increase in value. If the dollar continues to lose value so quickly, this would result in about 100% gain if valued against USD.
from 2009 low to 2020 high
SNP/USD +420%
SNP/M2 +170%
As you can see, if valued against M2 the SNP is still about to recover from the dot-com-bubble. I think it will take about the next 5-6 years to revoer that, which would be a 50% increase in value. If the dollar continues to lose value so quickly, this would result in about 100% gain if valued against USD.
from 2009 low to 2020 high
SNP/USD +420%
SNP/M2 +170%
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