Here is a post from just a few minutes ago where ajtj99 lays out his list of conditions for where we are and in my view this is possibly why we are going higher. The GS projection for earnings 2021.....
25 stocks out of the 500 stocks in the S&P 500 index determine 40% of the moment to moment price valuation for the S&P 500
the other 475 stocks account for 60% of the price value each day
it is math, since the $SPX is a market capitalization dollar size weighted index
just a reminder that 25 stocks plus less than 125 other stocks in the index can control the day to day direction of the S&P 500
concentration is at the greatest percentage I have ever seen for the S&P 500 index
* the $SPXEW remains a sizable distance below its 200-day SMA, so time will tell whether more advancing participation by the balance of stocks in the S&P 500 index actually takes place over multiple weeks
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