Stocks made a valiant attempt to rally off the bottom today— and failed. At least in the futures markets, which both finished in the read as of this posting.
There will be an FOMC rate decision announced tomorrow afternoon, with the attendant press conference and other Delphic pronouncements.
Gold and silver managed to rally off their lows and held the gains.
The dollar was slightly lower.
The scandal about the Fed Presidents actively trading the stocks and bonds whose prices they were actively influencing is growing.
I am still sitting in cash in my trading accounts.
This market is skittish, and there is tension on the tape because of contagion risk from China's Evergrande.
There will be a key debt deadline this Thursday.
Let's see what the Fed has to say tomorrow, and if is somehow reassuring.
Have a pleasant evening.
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