Friday ES Dump and Pump...Then Pump More

Friday dump in morning and pump @ 11AM-12PM as usual. Do we head to 3777 for the Christmas rally? Perhaps, after that make we will see some pullback; however, I am not seeing the REAL pullback everyone loves to discuss until the economy start to "recover" with jobs increasing and a real turn around happening.

On a longer term point:

When Obama was coming into office in 2008, something I think is a semi-similar situation to Biden now taking office, there was the usual Christmas rally in 2007, but after that, on December 27th, things really took a turn for the worst. ES was at a high of 1511 at that point, but January 22nd saw a low of 1255 (-16.9%). It stayed flat until July 15th when it saw a low of 1200.75 (another -4.5%). Then, we took dives until we bottomed out on November 21st and hit 739 (another 38.5%).

So the point of this is that as soon as there is hope and recovery in the air, things will really tank. It might be 2022 or it might be 2023, but rest assured, when those days do come, prices will dwindle back into reality with harsh pull backs. [My humble opinion]