$SPY Smart money is moving to the sidelines. Unemployed retail trading with their stimulus. The more unemployed the more new retail investors, hence unemployment is Bullish. This is setting up to cause an even larger disparity in wealth distribution. Retail is buying under the illusion that the FED is printing money and making the market go up on a daily basis. Retail alone is driving the market up with expectations of a V recovery. But in reality, this will be a long road to recovery because the money that was meant to help bring a V shape recovery will all be lost gambling.
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