PLEASE NOTE - I will be taking a vacation from the market and work starting next week, Monday the 11th, and will be MIA (missing in action) for two weeks. The cord will be cut so to speak while I am off so expect posting to resume on Monday the 25th.
The market had another volatile day today due to a combination of fresh data and more rumors. ZeroHedge put it best,
Whether it was the deterioration in Consumer Credit, downgrade rumors for US financials, Greek bank restructuring/run chatter, or a final realization that near-term QE is off at these levels of equity prices (as signaled by Bernanke and Gold this morning), the equity short-squeeze stumbled hard in the last hour of the day to end unch.
Since there will be no market recap tomorrow (Friday) as usual, this will be the last recap prior to my time off. Updated market analysis below.