http://finance.yahoo.com/indices?e=dow_jones
It is suffering from short-term profit taking. People with lots of bucks jump on the profit wagon and jump off in a big hurry. Jumping in with $ 200,000 and jumping out with $ 225,000. They repeat this ad infinitum and then do a reverse at times: selling short for BIG profits.
This is the proverbial "Stock Market from Hell." Only the 'Big Players' with bags of excess cash can afford this game. It is market manipulation played by experts. Up, down, up, down up -- then down, up . . .
That is why people cannot reasonably expect their 401(k)s to replace a Pension Plan. Smoke and mirrors confuse the masses. And all those 'teach me to trade' seminars (selling stock trading software) only increase market volatility. Thereby increasing the risk to Moms and Pops and increasing profits for Wise Guys.
Roller coaster markets are the bane of long term investors. Long term investing is dead right now. It may not come back as a viable stock market strategy for years.
Clickity click click . . .