Stocks Break Overhead Resistance

Yesterday, the S&P-500 closed above resistance created at the beginning of the crash earlier this year. The Nasdaq has been reaching all-time highs for over a month now. Also, daily volatility has steadily reduced, finally falling below crisis levels in the VIX index.

Accordingly, we began reducing our cash and investing into stocks, metals, and the miners.

It will be interesting to see if the S&P-500 can regain the all-time highs from early in 2020. If so, that would be the fastest recovery from a 30% drawdown in history.

On a side note, silver has crossed above $20/oz, reaching a level not seen since 2016. Gold is above $1800/oz. and also climbing. Whatever the reason (probably the Fed pouring trillions of new US dollars into the financial system), our portfolio model is happy to see this.