…It was an ugly week but markets bounced to the close. Bank earnings: JPM, Citi, Wells Fargo. China records a record trade surplus with US. Facebook breach update. Hurricane Michael’s wake. Financial Review by Sinclair Noe for 10-12-2018 DOW + 287 = 25,339 SPX + 38 = 2767 NAS + 167 = 7496 RUT + 1 = 1546 10 Y + .01 = 3.14% OIL + .54 = 71.51 GOLD – 6.10 = 1218.50 Yesterday we told you we were expecting a strong open for today’s session; we got it. The Dow opened about 400 points higher. Beyond that, we had to see what the markets offered. And what happened for most of the session was that stocks drifted lower; by shortly after lunch, the Dow slipped into negative territory; and that resulted in a “buy the dip” rally. Today’s rally snapped a 6-session losing streak, but it wasn’t enough to salvage a nasty week. For the week, the S&P fell 4.1%, the Dow fell 4.2%, and the Nasdaq slipped 3.7%. Wednesday’s 800-point slam on the Dow, was the third-worst single-day point loss in market history. And it might be reasonable to expect more pain in the markets, in spite of today’s bounce; certainly, more volatility in the short term. Just 19% of S&P 500 stocks remain above their short-term 50-day moving average. Meanwhile, about 75% of the S&P 500’s constituents, or about 380 companies, are in correction. Of those, 164 stocks have fallen by 20 percent or more from ...