The fact that we have the stock markets crashing into the 2015.75 turning point rather than making a major high is indicative of the future we should expect to unfold. In 1987, the low was on the day of the ECM as was the case in 1994 whereas 1998.55 was the high in the Dow to that day. So a low suggests higher highs where as a high at this point in time would have mean a profound longer-term correction.

So far so good. We may yet shake the tree and send money running into the waiting arms of government. Then look out for the aftermath.