There was a crash in March/April. The stock market has since mostly recovered thanks to the Fed printing money any time there is a dip in the S&P500 while the economy is doing incredibly poorly. What we are seeing is the result of the stock market no longer representing the economy but simply being correlated to it at certain times. Think about it this way: every company is struggling to some degree and we are at record breaking unemployment, and yet here we are with the same index prices as we had in February. To me that doesn’t sound sane and my personal prediction is that if Biden wins the election the printers at the Fed will be slowed down, which will tank stocks and index funds. This will be unfortunate as many people won’t understand that printing unlimited cash to keep Fortune 500 stocks looking good eventually just results in insane inflation and then everyone would lose their investments. If Biden wins I might just buy a few puts on SPY for maybe February or March 2021 as I think a stock crash will be coming.