Surprising Weakness

The market crumbled much quicker than expected.  I have never seen a market being led down by tech except during the tech bubble, so I don't expect the Nasdaq weakness to cause the S&P to collapse.  We should crack 1425 this time down and take us to 1400-1410 zone for a buying opportunity.  The time window for a sharp move lower is probably only about 10 days, so the bears have to get busy and do their damage while it's their time.  Once we finish up with earnings and enter November, I expect the bulls to retake control.  There is a slim chance that we get to 1370 on this down leg but the cautious posture of the investment community due to weak earnings makes it unlikely.