Third year of any President's term after the mid-terms tends to have above average returns, if I am not mistaken. Let's not forget that Christmas Eve Trump came out talking about how cheap stocks were and what a great buy. He may be a moron and a bigot and everything else, but he is the President. And at least for now, an American President still has standing in the world. I'm not going to try to explain it, but it is what it is.
Based on the HWB low that traded 12/24-26, the cash $SPX is likely going straight to 3207.78 and the institutions are buying every pullback the whole way up. I doubt we see any significant pullback before 3200 cash trades. For example, the HWB 12/24 to today is 2629.50 basis ESM ... very unlikely we see a pullback to that HWB before 3200 cash ... heck that's less than 10% from yesterday's cash close.
