No one could have predicted this event with any certainty. None of this made my friend feel any better. Such emotional turmoil is not uncommon these days. The simple fact though is that no one can predict the unpredictable. This is why buy and sell rules are so important.
Today there are mixed signals in the market.
On the one hand, many stocks have blasted through their 50 day moving average. Some stock charts even indicate the 50 day moving average crossing over an upwardly moving 200 day moving average. This is very positive. On the other hand, many stocks have invaded the upper bollinger band and most oscillators indicate that the market is overbought. Additionally, many stocks have run into severe resistance.