Base Camp

Need I say that yesterday was a powerful day and it was on big volume. The chart above is of the S&P. The lows of the year occurred on 10/10 and they have been retested twice and they may be retested again.

The market right now is not driven by fundamentals because there are no fundamentals to rely on. The market cannot be valued because no one has a clue what earnings will be next year. Aside from all the miserable economic news, the fact that no one can predict what will happen next traps the market in this trading range and increases the volatility.