I talked about whats moving the market in yesterday's post. I just wanted to pass along an opinion piece in the Journal today that basically says the same thing with a bit more detail. Its by Andy Kessler, and you can find it here.
From a technical standpoint, we appeared to break through the resistance levels near 8000 on the Dow with this morning's sell off. But we've since moved higher, and I wouldn't be surprised to again see more of the same action. Re-test market lows, and then bounce. Its been fairly predictable if you're looking for short-term patterns to trade off of.