Stocks made yet another morning rally attempt. 

But as it has so often been doing, it faded in late morning, and a slide began that ended up going out on the lows.

The spokesmodels fearfully wonder why the puppies are not eating their puppy chow.

This is not constructive action for any kind of market reversal.

Next week we will have an FOMC meeting. The Fed is almost universally expected to raise rates by 25 bp. The key factor will be the language they employ about the outlook for next year.

Some bullishness may be provoked by the way in which the Fed positions their interest rate stance for next year, whether it is substantial or not.

There will be the December stock option expiration on Friday.

This sets up the stage for a sharp relief or rebound rally IF the Trump-Trade-Brexit-Riots factors are at least benign, or ideally more optimistic.

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