Late Day Rally Stems Declines

I don’t think I’ve ever been relieved to see the market close down -370 points. But given how things were looking with an hour or so to go, the late-day rally was an improvement.I think the markets are really anticipating some sort of coordinated rate cut, and won’t be satiated until they get one.The volatility index (VIX) hit a new high today, spiking more than +20% to 58.24. I believe this is the highest level since October 1987. And I would be surprised to see this level exceeded this year.There were more than 1600 new lows on the
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[Source: The Money Blogs]