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NASDAQ 100 - Monthly
I've been seeing this week's tech sell-off described with words such as bloodbath, a reckoning, and reeling, but when I look at my big-picture NASDAQ 100 chart, this is what I see: a mild pullback after a nearly parabolic rally. If Kevin Warsh can be believed regarding pulling excessive liquidity from the market, there could be far more downside risk. I argue that without the 40%-ish increase in the M1 money supply in 2020 and 2021, the indices would be trading much lower... probably under 19,600. An unwind of the debasement trade doesn't just mean gold and silver; stocks and copper could be next. #TechStocks #nasdaq #tech #stocks $QQQM $nq_f #markets