Quote from paysense:
If you've been around for any length of time (more than 10 years) the market has traversed pretty much upward for 5 years in a normal fashion.
The decline - call it a correction or Bear Market - will find a bottom on its own.
Bennie Boy, Wall Street and the perma-bulls have perpetuated this bull market to the point of FINALLY breaking.
If the Fed feels they cannot intervene and that capital markets are now stable/big-boys have recouped enough losses - the little guy will see the markets tank per the norm.
Pull up a five year chart and tell me if we drop another 10%, find a solid bottom and forge in a healthy manner again to new highs that this would be abnormal.
When johnny, joey, becky, and judy learn the hard lesson by holding and hoping to no avail and find themselves as a last resort selling at the panic bottom only then will the typical cycle run its course.
And yes this is standard market action, nothing unusual here.
paysense