LOL at analysts continuing their game of, "inflate projections for insider access". It says something about this increasingly morally bankrupt world that this behavior is now openly recognized by all, and also perfectly acceptable.

I agree the markets appear to have a downward bias now. The breadth has continued to narrow, and the recent plunge probably broke the up-trend. That more than anything will dictate price movements after news, and there is plenty of that to justify lower prices. Once prices drop, it may be a while before we see huge buying, since everyone realizes stocks aren't cheap.

The downside to this increased volatility is I hate waking up in the morning to check, "Did the market jump or tank 1% in thin futures trading today?" For example, QQQ this week:

Monday +0.55%

Tuesday -1.53%

Wednesday +0.28%

Thursday -1%

After this mornings gap, that's a -2.1% move from Friday, with opening gaps totaling 3.36%. Perhaps we should start doing the opposite of what worked in the uptrend, buy at the close and sell at the open, then forget about it for the day.