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S&P 500 (SPX)

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Symbol
Exchange
Currency
US500DerivedUSD
SPXNYSEUSD
Currency in USD
Disclaimer
5,127.79
+63.59(+1.26%)
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S&P 500 Discussions

I'm calling a short on the s&p 500 for 3 reason.1: Most business are still affected by covid 19 and most have revenue down from last year but their stock price is up 15%.2: p/e ratio of the s&p 500 is around 31 at the moment when the average is 15-25. 3: A new strain of covid 19 has been discovered that is almost 70% more infectious. If it spread, the government will go back in a lockdown to make sure that people get vaccine before the virus mutate to a strain that is not protected from the new vaccine. If the protein inside the virus change, the vaccine will no longer be effective. It's too fast of a recovery. Airlines revenue are half of last year, they got big in debt and they are almost up in stock price from last year.
I'll put around 10-15% of my portfolio s&p so that if i'm right, the moment that i will make on my short will covers the lost of my portfolio.If i'm wrong, i don't see the s&p going more than 5% in the next 3 month. So 5% of 10% is 0.5%.
From a technical perspective all of the us indexes have reached long term resistance. The Dow Jones and the S&P500 are at the top of a multi years megaphone.
 On the s&p 500 index, revenue are down 17% from last year but the index is up 15%. On the dow, revenue are up 1% from 1 year and half ago and the index is up 25%. I feel like people just buy index because they are index. They remind me of when people we're buying mbs just because they are mortgage. They don't care about the number.
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