$NDX $SPY $DJI 1-23-25 digest/recap. 

- The $SPX closed at an ATH  for the 1st time this year. This follows 57 all-time closing highs in 2024, the 5th most of any year in history

-Post election years have been very strong the past 10 cycles (starting in 1985). Up 18.1% on avg and higher 9 out of 10 times

-The liquidity of E-mini S&P 500 futures has deteriorated over the past month

JPM client note: cross-asset positioning monitor reflects strong enthusiasm on $GOLD and $BTC
#NDX #SPY #DJI #SPX