Festina lente. (Make haste slowly.)
In other words, watch for fakeouts and do not be too quick to hit that buy or sell key. This can go either way.
If Timmy has done his homework the Working Group should be prepped to buy if the market doesn't. Hank would have done so.
Sometimes the right thing to do is absolutely nothing until the market tells you which way it will go.
This is one of those times.
It ought not to matter to the Obama Administration how the equity market reacts in the short term. That is like asking a new batch of crack addicts how they like their first week in rehab.
To elaborate in response to a question, I look at multiple markets for confirmations, not simply one chart like the SP futures. The NASDAQ 100 futures are a ctitical component of this mix for example.
"Some people see God as they see a cow, and love Him as they love a cow — for the milk and cheese, and the profit it brings. This is how it is with people who love God for the sake of worldly possessions or inward comfort. They do not truly love God when they love Him for their own advantage. The eye through which I see God is the same eye through which God sees me; my eye and God's eye are one eye — one seeing, one knowing, one love.”
Meister Eckhart, Predigten und Traktate