You forgot to mention that the market also failed to breach...

You forgot to mention that the market also failed to breach support and that a lot of indicators indicate a short term reversal. If you remember August, the market rallied to new highs as if an interest cut would solve all problems and everything would be better than it has ever been.
I've been a bear since August, but it doesn't mean that the markets will make new lows right away. Next few days gonna be crucial, but I guess I could be better of being a bull till January. Makes no fundamental sense now, made none before, but it doesn't mean that it won't happen.
Also remember that economical events usually take at least 1-2years to actually show. Right now I like to trade swings, after the Olympics I 'll most likely be happy to just be short.
The market also feels like traders are sick of this kind of behaviour and just want a Xmas rally to happen to be able to relax a bit.
I' ve been a buyer since Friday. Small positions with wide stops.
Time for a dead cat bounce me thinks.