The US markets were weak in light holiday trade.
The 'fiscal cliff' is unlikely to be resolved until January.
The markets may weaken a little more, but I think we have seen enough for today.
"Cæsar was swimming in blood, Rome and the whole pagan world was mad. But those who had had enough of evil and madness, those who were trampled upon, those whose lives were misery and oppression, all the weighed down, all the sad, all the unfortunate, came to hear the wonderful tidings of God, who out of love for men had given Himself to be crucified and redeem their sins. they had found that which the society of the time could not give any one— happiness and love." Henryk Sienkiewicz
The Banks must be restrained, and the financial system reformed, with balance restored to the economy, before there can be any sustainable recovery.