As far as news having an effect on markets, here is my take.
News triggers movement in the charts. The wave and overall chart analysis predicts where the bottom or top will be. Also, sometimes there is no good or bad news but in these cases the charts are useful in markets where things have either become over sold or over bought.
I think being only a news driven or chart driven trader is akin to being a radical freak. Just take a look at the extremes in the world: religious, political, environmental, and even personality extremes (bi-polar). So, this is a Gann theory of my own:-) IMHO, to live a life of one extreme is to shut out learning and missing out on the important lessons of life. Although I will have to admit that one will be a Master of his own extreme but I doubt it if he or she would be happy.
For example, I bet the Pole does not leave his Chicago apartment very much as he is glued to his many monitors.
I believe the Pole said we would get a bounce tomorrow. However, there is so much bad news that I don't see the bounce happening. Maybe the market will fake me out in that most of us are predicting a continuous downslide. In the long run (next few weeks) the trend will continue to be down. I'm thinking of shorting individual stocks or just the SPY to avoid the continuous decay of the ETFs......That way, I can hold my short position for a few days and go hit the tennis ball, take a hike, etc.....