Good synopsis in the first link about why the US stock market has been relatively immune to news. We have talked about the market’s resiliency for quite a while now. It’s hard to fathom that next week will mark the 10 year anniversary of Lehman Brother’s bankruptcy. The S&P proceeded to lose over 50% of its value over the next 18 months. It dropped to around 750 points and as I write this the S&P is at about 2900 points. Ten years can seem both like a long time frame and a short time frame. When the next sustained downturn occurs I’m sure we will use examples of the depths of the 2008/2009 plunge to show it could always be worse.