Market under pressure, will the rally attempt survive?

This is a post from Hello Suckers
Today the [tag]market[/tag] dropped significantly down. It seems like it had lost steam of last week power to override all bad news and we will head down again. The market is under pressure. It is still hard to say, which direction it will go.
Dow
-176.58 -1.99% 8,693.96
Nasdaq
-35.84 -2.22% 1,580.90
S&P
-20.26 -2.20% 898.95

When looking at the [tag]chart[/tag], the market is going to test its support line for the second time. If it goes down, the rally will be over:

[tag]Dow Jones Index[/tag]

I read a [tag]market review[/tag] “In the market” by [tag]IBD[/tag] every day and it is frustrating and depressive to read that the market slipped on [tag]economic woes[/tag], surprises, [tag]crisis[/tag] and other bad news. I wonder who is still wowed or surprised? We all know that the economy is in bad shape, but honestly it still is doing well enough, better than in 1987 or in 1929. I know, it still can get worse, but why so much pessimism? Big corporations and [tag]banks[/tag] who primarily made this mess shall work with people not to let them down, negotiate new conditions to keep the [tag]mortgage[/tag] and [tag]loans[/tag] markets working. In previous years bankers were greedy and today they are scared to lend a penny. What extremes! [tag]Small investors[/tag] such myself need to wait when the [tag]panic[/tag] stops driving the market so we can start [tag]investing[/tag] again.

Tip: [tag]Save your money[/tag], do not invest into any new positions, build a [tag]watch list[/tag] and wait for the market to tell when it is the best time to start buying stocks. This beginning rally still may fail.


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