Over the last decade, investors have been trained to "buy" the markets every time the Federal Reserve was engaging in providing liquidity to the financial markets. As I noted in "Pavlov's Dogs:"

"Classical conditioning (also known as Pavlovian or respondent conditioning) refers to a learning procedure in which a potent stimulus (e.g. food) is paired with a previously neutral stimulus (e.g. a bell). What Pavlov discovered is that when the neutral stimulus was introduced, the dogs would begin to salivate in anticipation of the potent stimulus, even though it was not currently present. This learning process results from the psychological 'pairing' of the stimuli. Importantly, for conditioning to work, the 'neutral stimulus,' when introduced, must be followed by the 'potent stimulus,' for the 'pairing' to be completed."