ES - 4 Hour / An Extreme Range for Q1 2022

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This is the one Chart that provides the clear and very present Dangers
ahead for Q1.

We know Q4 was unwell for EPS.

China was shut in the Majority of the Quarter and became increasingly
bellicose to its Trade Partners.

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With 356 of 505 ES components in the Dumpster Fire which continues to
be stoked with Geopolitical Risks and endless Vectors which provide concern
in spades...

The 711s continue to be the Prop - 28% of the ES weightings in the top 6.

Underlying Equities have been wrecked already, which has proceeded every
"Crash" prior... for Follow on Year, the magical month of December.

We are not anticipating a traditional "Crash" but it will feel like it for the Endless
Bulls / Dipper / Chippers / Meme Degens / Klepto Passive INV ETFs.

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Breadth must expand or it's more Gasoline on the Dumpster Fire.

The range above shod is of concern.

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