Well, none of us can claim to be surprised. If, out of a sample set of 400, the correlation is precisely -1.0, then you’re on to something. Yet, every time, I figure, meh, maybe the old bugger will be right this time. Nope. Never. Not even once.
![esgart](https://slopeofhope.com/wp-content/uploads/2021/12/esgart-640x377.png)
Now that we’ve endured two vicious days of buying, allow me to offer this hourly chart of the /ES below. I would like to suggest we’ve seen this movie before. The last time, we had another hard tumble, taking out the prior lows, before ascending to new, lifetime highs. This isn’t a sample set of 400, however. Closer to a sample set of 1. But at least consider what took place the last time.
![theboxes](https://slopeofhope.com/wp-content/uploads/2021/12/theboxes-640x464.png)
A far simpler way to view this, without an analog, is as follows.
![telift](https://slopeofhope.com/wp-content/uploads/2021/12/telift-640x464.png)
If on Wednesday we simply have another day like Monday and Tuesday, well, forget it, I guess Strawberry Blonde’s outlook for an end-of-year melt up is true after all. Stay tuned.