There wasn't much in the way of good news Tuesday for most of the day. Factory Orders were weak (-.2% vs prior 2.1%), Apple's new iPhone went to the "I got to have it" exhaustion category and Bernanke's testimony was uninspiring although he did hint at the Fed being willing to be the lender of last resort for banks. The big deal was the FT article which HFTs pounced on to bid stocks furiously higher in the last half hour. In the article it was suggested that France and Belgium would create a "bad bank" to house Dexia SAs to house some of the firm's toxic debt. The move was exaggerated given much oversold conditions and the threat of a bear market in the major indexes. The "stick save" there was pretty obvious. The downgrade of Italy's debt might even be perversely stimulative in getting European leaders to put in their "fix" for the umpteenth time. Wednesday will bring ADP data and ISM Services reports. The markets remain broken in my opinion. They're being manipulated by HFTs, hedge funds and the Fed. You can't have these types of large daily swings and not turn-off Main Street investors. Let's see what happens. Disclaimer: The ETF Digest maintains active ETF trading portfolio and a wide selection of ETFs away from portfolios in an independent listing. Current positions if any are embedded within charts. Our Lazy & Hedged Lazy Portfolios maintain the follow positions: SH, EUM, EFZ, SKF, EUO, SSG, VT, MGV, BND, BSV, VGT, VWO, VNO, IAU, DJCI, DJP, VMBS, VIG, ILF, EWA, IEV, EWC, EWJ, EWG, EWU, EWD, GXG, THD, AFK, BRAQ, CHIQ, TUR, & VNM.The charts and comments are only the author's view of market activity and aren't recommendations to buy or sell any security. Market sectors and related ETFs are selected based on his opinion as to their importance in providing the viewer a comprehensive summary of market conditions for the featured period. Chart annotations aren't predictive of any future market action rather they only demonstrate the author's opinion as to a range of possibilities going forward. More detailed information, including actionable alerts, are available to subscribers at www.etfdigest.com.