Thursday, August 18, 2011

Marked Down


Here is a very quick update (post close) of today's market to the 1998 analog. If you need the background as to why this may serve as a loose framework to todays intraday ranges and volatility - see Here & Here

Jury is still out, but I believe the current market took the expedited crash path to a low on August 9th. And while we will likely revisit these levels once again in a month or so, the rally out of that low is still in tact - albeit marked down significantly.