The MoneyShow Chart of the Day shows the SPDR S&P 500 ETF (SPY) from mid-July onward. It shows this market can’t be kept down - just like a beach ball when you try to shove it underwater.

My goal with this chart is to benchmark the risk premium of SPY by risk-free rates (taken as the 10-year treasury bond rate here). More specifically, I am plotting the CAPE yield of SPY in excess ...