hmm...well, this was just a minor correction if you look at the bigger picture. The housing market's woes still pervades the market. But that saying, I think the market still has a chance of going up. Lots of short positions so if this market goes up, we'll see it rally up up and up (till it crashes again) However, if we look at the Spyders (^SPY) the $145 level (today's low) is a very important one. Or in the case of the actual Index, the 1455 level. Anything below that and we can see some weakness later in the day, hoo boy...We're in for a free fall. Open your hedging parachutes and short them babies I say.