Sure investors are selling due to the miss again, but most are getring out of the way of the shorts. The past year has conditioned anyone who's been around long enough to get out of the way and get in cheaper. The aggressive shorting yesterday served to deliver the message that the SP will be taken down. Most (who are conditioned to know what's coming) got out of the way today, but still with the encouragement from the shorts.

That's how the market works in the short term.