Cyprus Hill

The selling here is Insane in the Membrane.  The post options expiration forces at work are greater than the inconsequential news out of Cyprus.  You had a rally that was overextended going into options expiration, the following Monday had better than 50-50 odds of a gap down. As I stated last week, 1560-1570 zone will be a bear to get through, as there is a lot of psychological resistance at the S&P all time highs. 

If we open down over 1% from Friday's close, it will be gobbled up at the open by funds looking to get long exposure into a down tape.