If you're an intraday "market watcher", take my advice... there is absolutely NO REASON to pay attention to this market until the last hour of trading...

I don't have an explanation for what's happening in the market right now, but... as I've mentioned several times recently... the current market is like most basketball games... there's just no reason to watch it until the last few minutes (or in the case of the stock market, the last hour of trading).

Some market pundits postulate that speculators are pretty much running the market, and I can see their point. Those speculators are akin to savvy poker players, not willing to "show their hand" until it's absolutely necessary. So they make their big moves in the final hour of trading.

Today's market action is a perfect example. The trading basically flat-lined all day, until... you guessed it... the last hour of trading, when the bears took over. The Dow ended the day down 215.45 points, and the Nas coughed up 46.82 points, mostly in that crucial final trading hour.

The one bright spot? The volume was a little soft. That means the market remains in rally mode overall.