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Smaller drawdowns in bad times mean less ground to retrace when the market direction is up.
Obviously, Visa's decision will impact market direction and we will continue to consider our actions accordingly".
"There's nothing definitive or compelling right now that's going to give the market direction".
Whether it also signals a long-term change in stock market direction is not so obvious.
Since 2006, Mr Harper has nudged Canada in a more free market direction, lowering some taxes and boosting military spending.
"Guangzhou is on the edge so artists and art organisations can pursue an artistic rather than a market direction.
The benchmark index has dropped below both its 14-day and 50-day moving averages, which are seen as indicators of near-term market direction.
The week's blitz of economic reports and the start of earnings season should provide insight into the economy and help give the market direction.
But it's quite possible that the apparent connection between I.B.M.'s earnings and the overall market direction is nothing more than an anomaly, and may not continue.
"Put-call ratios, that's a better indicator" of market direction than odd-lot shorts, said Philip Roth, chief technician at Morgan Stanley Dean Witter.
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But nobody doubted the liberalising, free-market direction in which she wanted to push Britain, even if it took longer to get there than some now recall.
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CEO of Professional Science Editing for Scientists @ prosciediting.com