Perfect example! Looking at the 5 day DERM chart says it all. The market didn't "know" in advance. Just as the market "knows" nothing about the IPIX P-II outcome.
Attempts to create an atmosphere of the market "knowing" that P-II failed are without foundation.
This DERM example dispels the "always" about the market knowing in advance. Resorting to absolutes while attempting to scare investors is a foolish strategy.