From a bullish point of view, this may be the "jolt" that's needed to revive the market. The bears, on the other hand, may have already gotten the party started last night. And, if you're neutral playing the "calendar spreads", you're hoping this'd turn out to be a non-event. Everyone's just speculating.
As I had commented last night, the AH session as well as the prior events leading up to Friday's downgrade had shown very little reaction, if any, to the S&P decisions. To that end, perhaps "the neutral" got it right.
Just to add to the intrigue, this is a little research that I'm keeping track of on the weekly basis. You can draw your own conclusion, but spikes in the "Stock Market Crash" search appear to have correlated with short-term market bottoms.
