Japan's nuke disaster upgrade did not worsen the market much, which means its impact on the market has been priced in unless something dramatic occurrs there. But the expected Libya war may send the market into afressh dive again, but it will be short lived and will bounce back right way, because its impact on world economy will be limited. It will be a good oppertunity to go long after the war starts. Comments please adadadog
I don't agree with your reasons but I do agree that equities may dip a little bit further before a very strong rally begins. I am looking to buy a dip in the Nasdaq as I have explained here: http://thenextleveltrader.blogspot.com/2011/03/level-bounce-in-nasdaq-future.html
Also nasdaq is better positioned than other index, because the disaster has weakened Japan's counterparts of U.S. tech firms.