All Time Highs!!! - Trading Journal (11.13.20)

The SPY today, Friday 11.13.20 closed at an all time high and this past Monday hit an intraday all time high of 367. Who would have thought after so much the global world has had to deal with and to see the US markets hit all time highs it is remarkable to witness. Yet the most likely reason why it is at all time highs is because most people have doubted the markets would be here if we look back to where we were just last March.

Remarkable to see today that the markets took off and stay up but SPY had been in a range for the whole year. Now that it has gotten out of the range the question is how far and long can it stay up here. There are solid signs identifying the markets can continue to move higher.

Inflows Higher

For the week a lot of flows into equities to support the higher prices. This may likely continue as retail is getting further into the Equities markets than ever before for 2020.

There are still doubters that markets can continue higher and the more there are the more likelihood markets will continue higher. Although reality will soon face all as there are headwinds ahead. One concerning factor is the increase cases of Covid19 and best summarized here.

In a previous post I mentioned sector rotation out of tech and into value. The rotation can create something not so positive for overall markets as a whole.

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