Besides a slight scare from the Speaker of the House today, the market rallied in fine style. It could not break out over 1422 on the SPX but most of the market did well. Volatility did come down a touch too as the short end of the market started to catch up with what the longer end of the volatility market has been doing. It looks like we are setting up for a rally to the end of the year as long as some sort of something comes out of Washington. We would have a nice Hollywood moment if the politicians got it together before Christmas. Wishful thinking anyway and I won’t bet too heavily on it.
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