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Follow up on last week's post

Last week I reviewed what historically happens after a steep rally like the one we had in the prior 9 days that ended on Oct 14. I determined that historically the week after is a relatively quiet week that brings consolidation and some modest gains. This is what really happened in the week after I wrote the analysis. After closing the previous week at 1225, SPX moved up and down this week and closed at 1238, a 1% gain. I will extend the historical parallel in another post this weekend and I will try to add some more flavor to the analysis in order to gauge the potential market moves next week.