Alcoa kicked off the real earnings season tonight after the Banks have finished spewing their financial results early.
Gold and silver tried to rally but were smacked down in the afternoon in the currency crosses. The Dollar gained.
Stocks were slumping badly, but were rescued in the late afternoon, led back up by the SP 500 futures which closed unchanged.
The SP 500 futures are the locus of market intervention. See the writings of ex-Treasury Secretary Robert Rubin for the technical and ethical justifications for this.
There will be a stock option expiration on this Friday.
There will be a Comex precious metals option expiration on the 25th. It is not a significant option contract month. The focus is now on the December contract.
Have a pleasant evening.
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