If we are going to get a sell off, it will be event triggered.
Perfect timing would be test of yearly low or new low around Inauguration.
Not bearish, just a caution to the bulls.
Edit: That means, no matter how high ES reached today or Monday, even > 945, does not matter because a shock can easily take ES back down to 850 area in no time.
Edit again: If there exists PPT, which is now switching hands, what would you prefer if you were them? A lower starting point = easier to claim credit for performance