Stocks have done remarkably well over the past month. But that does little to mitigate the serious pain that remains in the market. They lost a great deal of money and any time the market shows any strength, they'll be selling into it. Resistance Dow unable to crack 11,000 at the close As it turns out, the most consistent selling level over the last half year or so has been the 11,000 mark on the Dow. Each time it has failed the attempt to get over 11,000, the broader market has failed with it.
People take their cues from it.
The market went through that and they held on. Hoping the downdraft would be only temporary, perhaps. Of course, it was not. With 11,000 less than 50 points away, were are again at a level where selling pressure may intensify.