The ASX and in particular the DOW is being manipulated by spread bet firms and margin betters in conjunction with the Fed. They have strategic traders on the floor who are able to control the entire market.
U need only look at the huge swings recently on the Dow some very late in the day due to "unforseen" announcments. A classic example was the Feds codicil to their last interest rate announcment. Again late in the day some guy gives details of his shareholdings and the whole day changes......the list goes on. These "traders" cotton on to the most minor excuse to either rally or sell.
If u dont believe me just have a look at what "information" is being used to justify late swings during the day.