The Everything Rally Continues
Risk on is sweeping across markets as the "everything rally" looks set to continue. Despite the nearly 24 million confirmed coronavirus cases worldwide, risk appetite remains strong. Unprecedented Fed stimulus, expectations for a V-shaped recovery, as well as other factors are enabling a great deal of capital to flood the global financial system.
Let us start by looking at what is probably the most widely watched stock market index in the world, the S&P 500/SPX (SP500).
SPX Update: New All-time Highs
Source: Think or Swim,