This week's Ponzo forecasts continue the theme from the past 5 weeks, positive momentum with relatively low volatility. The SPY outlook has become less optimistic for the next 2 months than previous views but we are not seeing the wild outlier scenarios in either SPY or the VIX that characterized the early December posts. There's talk of a post Inauguration sell off but little technical evidence to support such a case...at least not right now.