SPDR S&P 500 (SPY)

[GuTA]

Exactly. People saying “this makes no sense to go higher” are looking at the wrong indicators for near term price action

Could the Fed having a 10 trillion dollar balance sheet come home to roost and crash the markets? Probably. Is that happening any time in the next few years? Not a chance, yet people love to place bets on what they think the macro environment is telling them.

The market doesn’t care about unemployment numbers. It actually liked bad news like this in the current environment. We don’t make the rules and we certainly can’t change them. I’ve been long and strong since March save a few hedges at inflection points.

You get zero points for being early on a call.. actually, you get negative points.