But the SP500 surged to a new all-time high! Of course. They are pumping money into the markets to create “stability” and the excess flows into the stock market momentum stocks. It relieves selling pressure and squeezes the shorts.

Fifty percent of the SP500 revenue are non-US revenue. It is actually a global fund even though we think of it as an American fund. For tech sector, the percent is 70%. I think we are in for the COVID effect where the market wakes up late, but wakes up.