The market really does not act as it traditionally has... I am not the only one who sees this.  If it's computers or "the invisible hand" or some combination of, I don't know.   Some smattering of comments over at Realmoney.com

#1

The problem is that trusting that this is another V-shaped bounce just like those at the beginning of September and October is a very tough call, especially with the jobs report pending tomorrow.

Right now it looks like the exact same pattern that we have seen the last two months. We sell off sharply and look ready to gain downside momentum as the month starts, but the buyers make a stand and send us straight back up. As I've commented, that is not what you normally expect to see technically, but it has happened consistently in this market.

So the million-dollar question is whether the pattern of V-shaped bounces to start the month continues or whether we stall out as we run into overhead resistance. I have to stick with the charts and question how easily we can go straight back up, but this market has made those who stick with a disciplined approach look foolish. It could easily happen again.

The strange thing about this market is the lack of counteractive trading... Normally the dynamics of greed/fear will create selling when we pop up big and buying when we drop big.. The bigger the better which will create oscillations that a trader can play... This market tends to move up and go flat... Move down and go flat, so if a trader misses the big moves they are left with little to profit from.. Tough trading.

#3