Despite today’s selling, October closes out the month with a 10.77% gain.   This is a still a massive move from a historical perspective.  It marks the largest rally since December 1991, although as of Friday we were on track for the best month since 1974.

The rest of the week should be very interesting in the wake of profit taking, MF Global bankruptcy and BOJ Yen intervention.

Below is a monthly chart of the $SPX:

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