Why would someone SELL the SPY if they bought back in 2009?

Answer: They wouldn't. They would HOLD just like Warren Buffett has been preaching for decades.

"It's what's NOT going on in the market that's making it go up."

If people aren't selling then the SUPPLY is LOW. Therefore DEMAND is HIGH.

2 other things. 1) If the 2020 dip didn't scare them out, they ain't selling. 2) If they had the balls to buy during the 2020 dip, why would they sell now?

JMHO GLTA