In July 2020, the market has gained steam again, with the S&P 500 (SPY) going up 5.51% despite a deterioration in the weekly jobless claims and an increase in US COVID-19 deaths.
However, insiders are not buying into this recovery, with total US insider purchasing activity reaching historically low levels. These officers, directors and majority shareholders (who know their company better than anyone else) purchasing few of their own company shares might indicate that the market is getting too expensive. The stock market drop after the lowest insider activity in January and the