Good Years Follow Fallow Years
A long standing definition of a bear market is when the market ignores all good news and reacts negatively to the smallest bad news. Conversely a bull market sees us all ignore any raft of bad news and yet set the market running on any small amount of good news.
So what do we call the current situation, one where the market drops 5% on bad days, based on a mere rumour, then claws its way back based on any semblance of good news? The answer; confused, fearful, uneducated, highly speculative, stupid or just recessionary?