One of the minor pleasures of following the stock market is hearing the analysts' explanations of each day's moves. The previous evening's market wisdom is instantly forgotten.
Most serious observers agree, in fact, that daily market movements signify next to nothing.
Trying to get rich by following them is like trying to get home faster by changing lanes on the freeway every time the next lane pulls two cars ahead of you. That said, the sheer size of recent market swings does command a certain attention. Granted that this has to be viewed against a total of some 10,000 points, it is still five percent of the market value, or God only knows how many tens of billions of paper income. Volatility, as they say, is at a high level. Stock market bubbles and crashes are as old as stock markets.