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Chart of the Day
For some perspective on the latest stock market action, today's chart presents the trend of the S&P 500 so far this millennium. As today's chart illustrates, stock market action since 2000 has been extremely volatile with two massive bear markets each being followed by a strong recovery rally. It is interesting to note that both of these bear market rallies are somewhat similar in form (i.e. strong first-year rally followed by a more moderate rally in succeeding years). As for the current state of the market, the S&P 500 continues to trade within the confines of its three-year uptrend but is currently testing resistance.

Notes:
Where's the Dow headed? The answer may surprise you. Find out right now with the exclusive & Barron's recommended charts of Chart of the Day Plus.

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Quote of the Day
"If you find a path with no obstacles, it probably doesn't lead anywhere." - Frank A. Clark

Events of the Day
October 24, 2012 - United Nations Day
October 31, 2012 - Halloween


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