I must say that I consider it a good thing when the market reacts to individual companies fundamental announcements rather than engaging in massive risk-on/risk-off broad market moving trades.

For instance, as I type this right now; General Dynamics is up nearly 6% in today's trading after announcing an earnings beat, while Procter and Gamble is down about 4% today after reducing its forecast.  All the while, the market is flat on the day.

Fundamentally focused investing appears to be taking hold of the market, which is a sign to me that the normalization process continues to settle in to the markets.