What's Really Driving This Crazy, Mixed-Up Market
Not really all this stuff. Markets don't go down in a straight line or up in a straight line, they have trends and countertrends. The dominant trend could be down but you will still get massive moves in the opposite direction, like today so far. Yes you usually need a few rays of hope to get them off the ground like Black Friday sales and some good news out of Europe, but then they take on a life of their own as short sellers get squeezed and are forced to start massive buying. If you look beyond the main indexes you see that volatility is not down as much as you would expect during a 200 pt up day on the Dow, Treasury yields are down, and the Euro is down vs. the Dollar---all things that make you go hmmm.