The bounce we were anticipating came Friday, with futures leading the way. After Thursday’s close, buyers stepped into the futures market and commenced to bid the index up. The 200-day is now the upside target (+1.85%), which could come quickly as the fast money shorts will be forced to cover as the market creeps higher. We could be wrong and keeping it close.

Nevertheless, we still believe we are in only the second inning of a nine inning game of pain as the global political and economic order is being demolished by the Trump Administration. Markets seemed to like the old world order, in our opinion, and we have no idea what will replace it.  Meanwhile, there will be great uncertainty about the emerging New World Order, and you know how markets love uncertainty.

Stay frosty, folks.