Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
After this morning’s major gap down, the markets have recovered somewhat. Boehner spoke and essentially remains a parrot. All roads lead to a deal at some point – it’s just a matter of how much drama between now and then, and WHEN then is. At this point the S&P 500 has rebounded to – you can guess it, just below the early November highs – 1433s. A break back ABOVE that level would obviously be a positive (1435).
We’ve had the emotional action now, so as people in Manhattan and Stamford leave early for the holidays, it will be interesting to see how things shake out. Especially the last 30 minutes.
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