I expect a strong rally in equities this month, as market technicals look exceptionally firm. Yesterday, NDX failed to complete the potential H&S pattern, and Asia held up surprisingly well despite the hawkish BoJ pivot that could have easily revived last year’s nightmare. JPY only gained around 0.5%, and the Nikkei fell less than 2%. Overall, KOSPI flows also seem to be turning around. Feels like Santa is coming to town.