Bear market rally / Bear flag SPX

SPX chart adjusted to cash availability (money stock M2) and to the last known M2 value = 18,700 BN $

This shows the exact value of SPX at each point in time if the availability of money were the same as today.

For this perspective, we can see 2 things:

Triggered rising wedge, targeting around 2,800

AB = CD fibonacci pattern (or Bear flag) with target around 2,100

The rules of the game has been changing so we should to update the levels to watch.