Why the next 5% in the S&P 500 absolutely has to be up: - Up is consensus - santa, a meh optionality trade If down 5%: - Simple reversion and still above the 200-day moving average - $ amount drawdown equal to almost 12% of GDP - the most in history - Reminiscent of 2007's exit, right after the Fed started easing - 1929-like pattern in Bitcoin/cryptos would accelerate - Yeah duh, gold's best year ever vs. falling crude oil was a clear signal (future generations might say) Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/t0gu4ogpqqbl {BI COMD} #gold #stockmarket #macroeconomics @BBGIntelligence(Mike McGlone)