The wash and rinse continues, as stocks gave back a chunk of the utterly irrational rally that we saw yesterday.

The action appears to be highly 'technical' — a highfalutin game of liar's poker.

Gold held its level, but silver bounced back, against stocks and the Dollar no less.

Let us be mindful that there will be an FOMC meeting tomorrow, with the decision announcement and press conference in the afternoon.

And then on Friday there will be the stock option expiration.

Have a pleasant evening.

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