Add to that what I'd call a common sense factor. Fuel bills for February are going to be a nightmare in a large part of the country. What's that going to do to the economy in the near term?
Actually, they're up --all major indexes are now higher than they were two hours ago. OK, you mean they're down from where they were at close/business yesterday. True, but they're still higher than they were 2 weeks ago. It goes on and on and it's not news that stock prices fluctuate. You asked; imho they're right now generally down (see I agree on using your time frame) because the current buying wave seems like it's cresting --like steering a car as we first correct one way and then back the other.
Then again, I may be wrong...