Simchat Torah (in diaspora communities) began last night and continues today until sundown. It means Rejoicing in the Torah, and it marks the end of the year-long Torah reading cycle and the beginning of the new cycle of reading the Torah back in Genesis / Breishit. You may remember this holiday from growing up, this is the one with the flags and the apples and all the marching around with all the torah scrolls (marching is called Hakafot). This is a full-festival day (restrictions similar to Shabbat). In Israel, Simchat Torah and Shemini Atzeret are the same day. In American Reform Judaism, they are sometimes observed the same day. For more, see: http://www.jewfaq.org/holiday6.htm
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