5 OCT 2011, Wednesday (AM)

• Aaand right back in the range.  What a game.
• Pretty impressive late day reversal in the congestion band from summer 2010.
• Perhaps it's trying to find support?  If today's low holds for a few days, maybe we can rally for a month or two back up, dare I say it, to the top of the recent range or even those swing lows in the 1250 area (200MA up there and is coming down).  Had a breakdown like this into MAR 2008 and it went up into MAY right back to it's 200 and failed leading to the nasty 2008 fall.
• Dunno...all you can do is follow.  I'm not going to be bold...never know what the next headline out of Europe does.  Treacherous markets and the high volatility continues.