S&P 500 (Dec 12) INTRADAY Review I called it wrong yesterday – The Chicago PMI data disappointed and this helped to tip the balance and generate enough selling momentum to drive the S&P index lower throughout the afternoon. Our more bullish view was based on the idea that Hurricane Sandy had created less damage than most had feared and the New York Stock Exchange was re-opened and we felt there were some positive data points earlier int eh week that had not been fully priced in. Also,
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The 1888 close was due to the Great Blizzard