Nasdaq Composite Index divided by M1 and M2 money supply

The current drawdown in the Nasdaq may not appear like much when looking at a monthly chart for example, however when comparing to the money supply it tells a different story. Compared to M2 we are at the same level seen in early 2020, however compared to M1 we are at levels not seen since 1991.
Nasdaq Composite Index CFDM2SLmoneysupplynasdaqTrend Analysis

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