There are three key reasons why investors should resist the urge here.
Are equity markets oversold? Sorry to say, but I don't think so. Not yet.
At least part of the market's negative reaction to the Fed on Wednesday may be tied to two factors.
Plus, federal legislators fiddle while the ranks of the unemployed continue to burn.
Beneath the headlines are some mixed results and pushing against the numbers is a trend that should give caution.
The market indices are extended and could use some rest, but the trend toward continued buying is winning out so far.
With unemployment at 10%, the 'water in the pot' is pretty cold.
How September markets digest August ahead of momentous events will be far more important to uptrend maintenance than how August closed.
September, not October, is historically the weakest month of the year for equity markets, though October has had more high profile collapses.
Is that a sign of a healthy market?