SPDR S&P 500 (SPY)

[imiloa]

fwiw, the driver of this week's rally seems more tangible than confused.

the world economies, from banks to companies to job seekers,
have been anxious for months about the economic impact of
over $500b evaporating from balance sheets,
thousands of trade networks severed, etc...

last night Greece voted to enslave themselves
so the rest of the EU can get back to their busy lives,
business as usual.

and the casino knew how the parliament vote would go
because they have the resources and networks
to assess the voting stance of nearly every MP
before the vote happens.

so the casino was loading speculative shares earlier in the week,
let it freefall yesterday afternoon (with probably a bit of nudging... )
then, from the lows of the plunge,
loaded their cargo ships with millions of shares into the close.

shares they'll be happy to distribute to retail (us)
over the next few days.

imo, that's why SPY is rallying this week.
and likely continued higher
if creditor approval of the Greek deal goes smoothly
and everything is buttoned up neatly for a few weeks
until Greece defaults again...