SPY has been on an absolute tear the last few business days and for good reason.
For the most part the interest rate hikes, war in Ukraine and the "New" Covid subvariants from Europe are all baked into the price and the tide has turned, there are now more bearish than bullish people which means its a time to buy.
The uncertainty surrounding the markets have indeed tapered off. I expect stocks like PYPLMULN and Tech Electronic stocks to gain back considerable ground.
Not to mention on the tech side of things the SPY has broken the key resistance at the 50MA and 200MA and is about to break through the Ichimoku Cloud.