Has'nt anyone noticed the deverergence.. last three trade days, spy flat..flat..then down big today. The big guys are running to dow 30. But thats the last door to the exit. I predict dow 10800, spy 1150.soon, got out of all longs 1/10/11. made 20% in one month, made 15% for the year, take that fund gods.
1220 - 1230 should hold as support, if the market even gets that low. 1250 is another area of support I'm looking at.
BTW, your post is a classic example of the underlying bearish sentiment in the market that I referred to the other day. The upcoming "correction" has to be one of the most anticipated and prepared for that I can recall. The Fast Money flunkies didn't talk about the winter & spring 2010 corrections before they happened, but they've been talking about this one for weeks already.