#5 · M2−Nasdaq Scissors
Latest
-18.94 pp
Min
-62.55 pp
Max
35.26 pp
Data points
2511
Creator threshold
Creator: red-triggered; M2 +5.6% vs Nasdaq +29.7%, gap ≈ −24pp — deep divergence.
Historical state distribution2016-10-10 → 2026-10-06
| Triggered | 1498 | 59.7% |
| Warning | 367 | 14.6% |
| Not triggered | 646 | 25.7% |
Broad money (M2) year-over-year growth minus the Nasdaq-100 (QQQ) year-over-year return. A deeply negative gap means asset prices are sprinting far ahead of the money supply — a rally powered by concentrated leverage on existing cash, not by new liquidity.
FRED WM2NS · Nasdaq-100 (QQQ)