It is well understood that the primary reason behind the stock market rally is the unprecedented amount of monetary stimulus from the Fed and other Central Banks.
The gigantic short position was squeezed by the rising market causing panic buying to cut losses.
M2 money supply is up 40% alongside the same increase in the Capitalization value of the S&P 500.
The market is trading at 20 times 2019, S&P 500 earnings of $162.30. The highest recorded. Forecasts of 2021...