A brief update on...
- US Net Liquidity (top blue line): Still chopping sideways since April 2022.
OPINION #1: US based assets (think micro/small/mid-cap stocks) are likely to continue to chop sideways until US net liquidity momentum moves decidedly higher.
- Global M2 monetary supply (approximate, lower blue line): This has decisively broken higher over the past several months and is unlikely to contract meaningfully in the coming 12 months or so.
OPINION #2: This upside breakout of global M2 bodes well for the price action of global assets like #bitcoin, #gold, and US megacap technology stocks.
Just my opinions, of course.
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