Just a quick note: despite all the red on your screens, the selling
seems to be on rather modest volume. That suggests more of a buyers
strike than a heavy distribution day. Both the advance/decline line and the
up/down volume are modestly lower — not particularly nasty — also.
Remember that most of the European Bourses are closed for Easter Monday (I believe some are closed tomorrow also).
On a somewhat related note, on Cody Willard’s blog,
he discusses the futility of trying to game the Fed on a day to day
basis. That’s an excellent point — not only for the Fed, but for most
economic data. The broader economy is marvelously complex, and its
oscillations and cycles unfold over periods of quarters and years —
Unfortunately, us humans have a hard time operating on longer time
scales. Days and weeks are easy; years and decades are almost
impossible . . .