Hi HLL, first can I say how much I enjoy your morning summaries. I just wanted to comment on yesterdays fall from a technical perspective.... October 10th/11th seem to have a long history of being important dates to the market...a few examples (and there are others) :
1990 bear market low 11th oct
2002 bear market low 10th Oct
2007 bull market high 11th Oct
this rally hit a high on monday 11th (XJO) and yesterday was the 12th. Sometimes dates like Oct 11th turn out to be significant highs or lows but sometimes we just get a quick crinkle in the space/time continuum out of respect for the date.....like yesterdays fall. Yesterday may have been a storm in a teacup. Time will tell.
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