For a while now, I have never really had the impression that ETF is any driving factor for the market at all, except that people are probably just looking for a means to at least attach the market movement to something. However, the SEC decision on the ETF is going to end up coming into play, I know the market will still end up doing whatever it wants to do.
I know a lot of people are anticipating to see the market take a movement eventually, but for now, I am beginning to actually tend towards the bull irrespective of some of these news, in as much as fundamental is not even something I will consider as something to look at much any longer, but one way or the other, I know we will just have to wait and see how things will turn out anyway.