Good Friday morning. Quick hitter day.

1) Were it not for renewed Ukraine-Russia tensions…and they are getting “real"…just imagine how much higher stocks would be, especially semis/tech/Mag 7. Here we have BTC up 9% on the week, with gold up 6%, yet equity markets have been flat to lower (until yesterday aft).

2) Next week should be bullish, especially as we get into weeks end and beginning of December. The fact that the Dow was up 461 yesterday…another day with a strong afternoon rally…has thrown short term "seasonality bears" for a loop. They have been positioned for a sell-off. Again, this thing is set to keep melting up.

Know this; once Trump is in office, the stock market is going to rip higher…and it’s likely not going to wait for inauguration. Again, Ukraine-Russia warmongers have been the only thing preventing it so far.

BTW, just 61% of the S&P 500 is above the 50 dma with only 71.4% above the 200 dma. We’re a world away from the 90% level where we would start ...