jonathan krinsky, welcome back.an that this ally just continues almost unabated from here until, i don't know, at least election day? i mean, inauguration day, excuse me. >> hey, scott, so look, the primary trend for u.s. equities remains constructive. i think the year probably finishes higher than we are here. the question is the path to get there, and there's a couple -- there's three really points that suggest tactical vulnerability. we are seen up signs and exhaustion signs. last wednesday, 27% of the s&p 500 made a 52-week high. this may be counter intuitive because new highs while they're bullish in the medium term, the last ten times we have seen a surge like that, eight of ten times has been lower 30 days later. that suggests end of december, a little bit of weakness: the second point is the speculative friends we have seen post election. you have seen a surge in crypto in the meme stocks, you had the most amount of nasdaq otc volume last week since july. so there's a lot of indication of a bit of speculativ