In the previous post when I said I don't expect these lows to hold, I was thinking more of tomorrow than in the next 15 minutes, but this works too.... makes me look a lot smarter than I am. ;)

Any close at these levels will have wiped out all of 2011's gains in the indexes.  Never fails to amaze how the market is a staircase up, but an elevator down.  What took the market about 2.5 months to build, has effectively been erased in 5 sessions.