You can't keep a good market down, especially during November and December.

As expected yesterday (November 2), the market quickly found a way to feel better about the possibility of Euro contagion: focus on the Fed. In his remarks after the FOMC meeting, the Fed chairman admitted that economic growth is frustratingly slow and “very unsatisfactory.” The Fed downgraded its economic outlook for the next two years and upped its unemployment forecast. In other words, the Fed finally admitted the reality of the New Normal.