News: CBA Australia's Commonwealth Bank annual profit falls 11%, cuts dividend, page-48

I think the markets reverted to forward looking over the last 3 to 6 months after the March shock.

What the anticipating and expectation is, for this quarter to be bad, and the subsequent ones to be in recovery with the worst of it behind us.

Now COVID is appearing to be doing the opposite. The last quarter much better than expected thanks to QE. All the cans have been kicked down the road.

The result? A lot of businesses are currently not doing as well as they were previously, with much more economic pain to come. As a result, the market is now starting to see a not so bright future, and this is effecting the current position on a lot of stocks.

Hence the goodish news, red days. Bad news is expected and priced in. A lot of the outlooks are starting to look like a much longer term pain than previously expected, and the market is slowly waking up to the fact that we have been in a fools rally for 3 to 6 months.

Thats my humble opinion anyway. It might be wrong, but the market sentiment is reflecting it. We will see more bad than good days on the back of generally positive results, but not so positive outlooks moving forward.

GLTAH, DYOR.