Mixed View

In the very short term, this market could bounce back and rally because we are now oversold but in the intermediate term, I believe we have more work to do on the downside and expect a retest of 1250.  So I will tread lightly here.  I have gotten rid of longs and will wait for a good shorting opportunity.  I don't want to go long here trying to pick up dimes in from of the coming bulldozer.