Perhaps you are confusing short term market swings with the longer term trend.
Some wise ET'er wrote that 'trading based on what you think the market shouild do is a quick way to the poorhouse."
On the other hand if you are a long term investor you will naturally what to ignore the day to day chatter, except perhaps in choosing the most opportune entries and exits, and pay attention to broader market fundamentals.
Today is options expiration friday (the last trading day before expiration). Pretty much anything can happen and it is only logical when viewed in the light of where the options are trading and where they need to move to, and that is difficult to figure out because you seldom have all of the information you would need to reliably do that. But there is at least a tendency for prices to move to the nearest strike.
It is also good to keep in mind that stock prices can become virtually disconnected with the true worth of the underlying companies they represent.
Today might be a very good day to take some profits or lighten-up on some unproductive positions.
