And the Rubber Band Snaps Back- Price/Volume Heat Map for Oct. 10 Trading Day

And there it is, the elusive demand that I thought would appear once Washington came to some agreement. Following an appearance that lawmakers are closing in on some sort of agreement, the market rallied strongly and gained more 200 basis points in value. That said, I am surprised that the markets were apparently baking in some sort of short-term debt default or at the very least a passing through of the Oct. 17 deadline with no Congressional agreement. It has been Washington's history, increasingly so I might add, that major deals are agreed upon in the 11th hour. Why would this one be any different. Of well, it most certainly makes events interesting.

I an any event, all the sector groups rallied strongly on the news of a compromise and demand was extraordinary strong across the board. I would expect there to be follow through that carries equity prices back towards the highs.