May 8th – So What’s Up with that?
The target of May 8th, 2021 was the turning point for the confidence in government – the collapse of Socialism. This was 31.4 years from the ECM target of 1989.95 which marked the end of Communism. Keep in mind that such dates are important and they may influence markets permanently, briefly, but they are important changes in the global economy. Here, it is interesting that May 7th was the highest daily closing in the Dow but in so many other markets as well in addition to providing the high in reaction rallies.