Look: I am eager to learn stuff I don't know--which requires actively courting and posting smart disagreement.

But as you will understand, I don't like to post things that mischaracterize and are aimed to mislead.

-- Brad Delong

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Monday, October 10, 2011

Monday Market Action

Well, this is trying.  An already apparently steep retracement has now advanced even further.  The SP500 intraday high today of 1191.35 is a little more than 4 points below the 9/27 high of 1195.86, so it's still possible that the drop from there is what is being corrected.  There are other possibilities as well, of course.

This will be a very busy week for me, so analysis might be sketchy, and charts will be catch as catch can.   Just as well since I'm rather baffled at the moment.  Still, you're getting your money's worth here - right?

We'll see if there's anything more to add after the close.  Probably not, though.

UPDATE:  The index took a jump up to 1194.91 at the end of the day.  Beats me.

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