CHESSNOID

Looks like the selling is intensifying and the early gains we have on Monday are being chipped away.  The downward trend is continuuing, and looks to be gaining more momentum.  The last hour of the day could see the losses erased or it could dramatically plummet.  I would lean towards the latter because the fundamentals and technicals still point down.

I think the government is taking the wrong route to solve our economy’s issues. This goes back to the housing crisis. The moves they are making is really more for perception and falsely tries to prop up the prices in stocks and the prices in housing. There is no reason to lower interest rates now and we should be raising them. All we get with that is a temporary stock bounce. There is no reason to spend tax money to bailout Wall street. All we get with that is more taxes in the future. They claim they want to increase confidence, but they are losing that battle too.