Not sure what you mean. People are trying to explain this down turn (e.g. Jan 1 to Feb 17; SPY -5.21%) and the possibility of a recession on the horizon and Oil/China are currently big reasons for that. China not having imploded yet means that right now the movements in the market are mostly speculative and psychological factors at play. This article is saying "Yes the down turn is coming. And yes it's because china is in trouble. And yes it will be big. And yes it'll happen soon enough because it's getting to critical mass."