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S&P 500 Sets New All-Time High; Falling VIX = Risk-On

If you had any reservations about whether last week’s rally was sustainable, this week’s performance was decisive. On top of a 7% rally last week, the S&P 500 rose another 2.2% this week to 3,585; a new all-time high for the index. And I see several reasons that push the market and epicenter stocks in particular, higher into year end. More on this below.

COVID-19 is spreading across the US at an accelerating rate and as we commented earlier this week, the US could see >200,000 cases withi...

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