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Tuesday, October 19, 2021

Sidelined Money Managers Forced to Allocate…

#money #allocate #managers #COVID


State Street’s SPDR S&P 500 ETF Trust (SPY) just added $9.8-B in 1-day, according to our data. That was the most in 1 session since December 2019, and 1 of the $319-B fund’s 3 best days in 10+ yrs.

Progress toward a vaccine for COVID helped spark the move, as investors dived into America’s benchmark stock index as well as some of the most beaten-up sectors of the market.

While the heavyweight tech shares that dominate the S&P 500 fell Monday and Tuesday, nearly 75% of the benchmark’s members finished higher.

Allocators sitting on the sidelines had no choice. Not participating, after the historic vaccine news could be career suicide. There is little doubt that some of the funds recently pulled from NAS Comp-focused funds quickly found a home in the broader, more cyclically based SPY and DIA.

The additions, the money into SPY was more than 10X bigger than the 2nd-largest ETF winner Monday and increased assets by 3.2% to the highest level since February.

Add that to the strong action last week with the market rallying strongly puts the indexes in uncharted territory. They have moved very Fassst in a very short frame.

Have a healthy day, Keep the Faith!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

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