S&P 500 = 1,224.58

Another strong day! The S&P 500 closed at 1,224.58 today which is the highest close since August 3rd. The market is now up 11.4% since October 3rd.

This has been a pretty snappy run. Who knew October would be so good? The S&P 500 has now risen for seven of the past nine days. It’s 4.44% above its 50-DMA and we only need a push of 4.2% more to cross the 200-DMA.

From the market top on April 29th to the October 3rd close, the S&P 500 lost 19.39%. The past nine days have basically cut that in half. We’re now 10.2% below our 2011 high.

Interestingly, October may be a popular time for market turns. Of course, there were the events of 1929 and 1987. But the market marked an important low on October 9, 2002 and it peaked exactly seven years later on October 9, 2007.

Perhaps October 3rd of 2011 marked another important low.

Posted by on October 14th, 2011 at 4:29 pm


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