ES1! (SPX) - December 6, 2020

SPY has flown to record high valuations reaching an all time high last Friday. This rally is driven on vaccine hope and stimulus news as the election uncertainty is now over. December is typically the best returning month of the index. That may stay true this year, as the money supply level has skyrocketed upwards. This usually relates to a direct correlation to GDP increase and consumer spending increase. It should be noted that dark pool purchases are still very low, implying that institutional money still is not buying significantly at these levels. We will have to see if the market holds up.