I think the US equity market is in for a stiff correction sometime in the first quarter. It will probably be tied in with the debt ceiling fandango.
Alcoa put in respectable results after the bell.
“the self-righteous, those who like to be thought of as such, have no chinks in their armour. They have no wounds. Their imagined self-sufficiency becomes an impenetrable layer that makes the human heart impervious to grace. Not even God’s charity can cure those who do not have wounds. Those who have never fallen will never be pulled back up, and those who imagine that they have never been dirty can never be washed clean.” Charles Péguy
The Banks must be restrained, and the financial system reformed, with balance restored to the economy, before there can be any sustainable recovery.