the profit taking sell off must pay capital gain, increased tax revenues from winning, but if the market declines to a certain point, then the loss is a tax write off, this would neutralize the profit taking sell off capital gain, tax revenue.

Friday's buying was evidence there is still robust demand. Now the demand could have come from the Fed's plunge protection team. If one believes the Fed intervenes in markets to prevent a crash.

But things are happening, and it's early, we really can't make run away inflation predictions based upon a small up tick in velocity of money and greater employment and wage growth

Economist often use 18 months as the length of time to see results from an economic input. It will be interesting to see the tax reforms results in 18 months. That's an expectation. The continued equity buying in the face of doom and gloom hype could be driven by the expectation of greater economic growth over the next two years. This is the trend driving the market, could there still be robust demand from this trend?