S&P500 SITUATION UPDATE| 8 DOLLARS TILL ALL TIME HIGH ON SPY|
Me and the boys are mesmerized by this unstoppable "Ride of the Valkyries" against all the laws of physics, economics and common sense, which is in limited supply in the contrast to its name these days. Never before the common phrase "the rich get richer as the poor keep getting poorer" been visualized so brutally, namely: SPY is 8 dollars away from reaching new all time high, coupled with the news of 30% downturn in the GDP.
Anyhow, thats what the promise of the unlimited liquidity from the FED means on practice. However, the question is: after the new all time high, whats next?
When the market reaches the previous high, which might be somehow justified by front-running the recovery, I fail to come up with any reason to justify the market getting higher than this mark. The economy will recover no sooner than 2021 by the most optimistic predictions. And I am in the camp of those who are convinced that we are to see a massive recession ahead of us.
However, I will reiterate my point, which I expressed here before: shorting SPY before a clear bearish signal is outright insane.
I hope you all got enough popcorn as this show seems to have no end in sight, completely embracing the Maos formula: the worse the better.
The turning point it seems will be the end of the presidential elections, which, no matter the result will give the market some clarity as to the further direction of the US and the World. +It seems like the vaccine will be available by that time too. 4 more months to go till November.
Lets see how it goes!
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